Saudi Arabia's Lifting Women Driver Ban Is an Economic Play
*By Jacqueline Corba*
For the first time in nearly three decades, women are allowed to get behind the wheel of a car in Saudi Arabia.
And while the change that went into effect Sunday may be a step forward for women's rights in the kingdom, it is also an economic move.
"The driving ban being lifted has been one in a set of limited economic and social reforms aimed specifically at making women good workers and good consumers," Human Rights Watch Acting Saudi Researcher Hiba Zayadin told Cheddar Monday. "With the drop in oil prices Saudi's strategy now is to shift the economy away from an over-dependence on oil."
And to do that, it means getting women to work.
Saudi Arabia's workforce is currently only [22 percent female](https://www.ft.com/content/c55d6cf4-8cd3-11e7-9084-d0c17942ba93), though women account for about 45 percent of the total population. PwC estimates that the number of female drivers will [reach 3 million within two years](https://www.pwc.com/m1/en/publications/women-driving-the-transformation-of-the-ksa-automotive-market.html), and if those women are better able to look for employment, that's going to have an impact. In fact, allowing women to drive will add $90 billion to Saudi Arabia's economy by 2030, according to [Bloomberg Economics](https://www.bloomberg.com/news/articles/2018-06-24/saudi-women-driving-is-seen-better-for-economy-than-aramco-ipo).
But getting everybody on board may not be so easy. The move, spearheaded by Saudi Arabia Crown Prince Mohammed bin Salman, [has some afraid of backlash](https://www.wsj.com/search/term.html?KEYWORDS=saudi%20arabia&page=2) from men reluctant to adopt more western norms. And many who champion equality reportedly remain detained for taking such a stance.
"The women's rights activists currently behind bars should be out there celebrating as well," said Zayadin. "What you are seeing on the news is women smiling with drivers licenses, but at the same time people are afraid to show solidarity for the women behind bars."
For the full segment, [click here.](https://cheddar.com/videos/saudi-arabia-lifts-womens-driving-ban)
The airline industry says it is contending with staff shortages that threaten to hamper operations amid the COVID resurgence, andDelta Airlines CEO Ed Bastian called on the CDC to revise its guidance for vaccinated workers who test positive from a 10-day quarantine to just five. Chuck Liberman, chief investment officer and managing partner at Advisors Capital Management LLC, joined Cheddar to talk about the current guidance on isolation and why he believes the omicron variant calls for more relaxed guidance given its reportedly mild symptoms.
Schools are shutting down in droves as the highly contagious omicron variant surges across the country. Denisha Merriweather, director of public relations and content marketing at the American Federation for Children, an advocacy organization for vouchers and tax credits for school choice, joined Cheddar's "Opening Bell" to discuss the impact of remote learning on children. She argued that school districts have to be more proactive about the steps they are taking to engage students, and if they are unable to form better teaching methods, parents should be able to find alternative schools.
The boys discuss President Biden's plans to send out free rapid tests as the testing supply chain starts to buckle ahead of the holidays. Also, why aren't Americans having more babies, and The Matrix returns.
With the Build Back Better plan essentially out of the picture, economists are highlighting what the country might lose without the provisions designed to strengthen it. Among other things, this includes no more monthly payments for tens of millions of families, no universal Pre-K for 6 million children a year, and no billions of dollars in tax incentives for climate initiatives. Grace Segers, staff writer for The New Republic, joined Cheddar to discuss the various impacts on the economy without President Biden's spending bill.
Electric vehicle companies took a tumble Monday after Senator Joe Manchin killed Biden's 'Build Back Better' plan. Shares of Tesla, Lucid, and Rivian all fell rapidly as the plan had included significant incentives for the growing EV sector. Rich Steinberg, former executive at Nissan, BMW and Electrify America joined Cheddar's Opening Bell to discuss.
Michael Robinson, Chief Technology Strategist at Money Map Press, joins Cheddar News' Closing Bell, where he explains why small and mid-cap stocks heating up during Tuesday's session is a very good sign for a stock market that ended the day's session sharply higher.
Coming off a 2021 campaign where the prices of Bitcoin, Ether, and other cryptocurrencies reached unpreceded levels, Bitwise Asset Management CIO Matt Hougan and OpenNode Co-Founder & CTO João Almeida join Cheddar News' Crypto Craze: The Year of the Token to discuss the ways the crypto market can soar even higher in 2022.
