Saudi Arabia scales back Neom mega-city plans amid rising costs and leadership changes

Saudi Arabia is scaling back its ambitious Neom mega-city project due to rising costs. The focus will now shift to developing sports venues, including a stadium for the 2034 World Cup and a mountain resort for the 2029 Asian Winter Games. Recent leadership changes have also impacted the project, with the CEO leaving unexpectedly. Plans for Neom, originally designed to accommodate 9 million people, are now significantly reduced as costs have surged to an estimated $1.5 trillion. Neom is part of Saudi Arabia's Vision 2030 initiative, aimed at diversifying the economy. The project has faced financial challenges, construction delays, and scrutiny over human rights issues related to migrant workers.