Michael Learmonth

New Year's predictions

In an elaborate foresight exercise for the year 2024, Saxo Bank unfolds a narrative that envisions a plethora of potential global transformations. This intricate forecast contemplates the ramifications of oil prices surging to an unprecedented $150 per barrel, a scenario that could catalyze a substantial reconfiguration of Saudi Arabia's economic landscape. The kingdom, leveraging its heightened oil revenues, might pivot away from its traditional reliance on oil revenues, fostering a burgeoning landscape in tourism and entertainment. Intriguingly, the prospect extends further into the realm of sports as Saxo Bank experts postulate Saudi Arabia's acquisition of the prestigious UEFA Champions League. Such a move could herald the transformation of this elite football tournament into a global competition, with Riyadh poised as a pivotal hub for the unfolding drama.