Profile photo for Areej Musaed Areej Musaed Follow Administrative Analyst at Air and Missile Defense (2020–present)Dec 13 Why is Saudi Arabia so good at managing its economy?While oil is the main source of wealth in Saudi Arabia, oil alone cannot make a country rich. Many major oil-exporting countries are either failed states or with struggling economies such as Nigeria, Iran, Venezuela and Iraq. Nigeria is always mention as poor country every where you go but our leaders are still sleeping never ready to wake up from their slumber. In order for oil to generate wealth, a country needs to have excellent governance, excellent education, social cohesion and political stability, all of which Saudi Arabia has successfully managed to achieve. Saudi Arabia now is a member of G20, a group of the 20 largest economies in the world.