Just saw this, hmm ...
The Real Reason Saudi Arabia Will Let Women Drive and It's Not About Women's Rights
Ending the driving ban for women is likely to save families billions of dollars, boost industries from car sales to insurance, and reassure investors Saudi Arabia can diversify its economy
Haaretz and Reuters Sep 27, 2017 5:09 PM
https://www.haaretz.com/middle-east-news/1.814634
Quote:
The ban may not be lifted until next June, and because of conservative traditions, it may take years rather than months for women to become a major presence on the roads in some areas.
But families' disposable incomes are likely to rise as they lay off their chauffeurs. Saudi economic news service Maaal estimated the drivers now collectively earn about $8.8 billion annually.
"The removal of the need for a family driver – even when women don't work – will help boost real income for mid- and lower-income families," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.
The drivers have been sending much of their pay back to their home countries, and their departure will reduce this outflow, leaving more foreign reserves available to defend the Saudicurrency from pressure caused by low oil prices. Saudi Arabia posted a current account gap of $27.6 billion last year.
However, energy consultancy FGE estimated a 10 percent increase in Saudi driving activity due to women would add 60,000 barrels per day to domestic gasoline demand. Although it is the world's biggest crude oil exporter, Saudi Arabia is a net gasoline importer.
Malik said there could be a short, one-off boost to Saudi car sales in coming months, as women buy vehicles before a scheduled imposition of value-added tax in January 2018. In many cases, however, women would not need to buy as they could use vehicles relinquished by departed chauffeurs.
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Tom Mueller of SpaceX, in Air and Space, Jan. 2011
26 Sep 2017, 4:09 pm
