Indonesia vs Saudi Arabia: Unveiling the Economic and Cultural Differences

Indonesia and Saudi Arabia are two nations with vastly different customs, cultures, and economic systems. While Indonesia is the world's fourth most populous country with a diversified economy, Saudi Arabia is the world's largest oil exporter, boasting a predominantly oil-dependent economy. In this in-depth analysis, we will delve into the key differences between the two countries, focusing on their economic systems, cultural practices, and socio-economic indicators.

Indonesia, a republic in Southeast Asia, has a vast economic landscape that has been transformed since the fall of President Suharto in 1998. The country has since transitioned from a closed to an open economy, embracing various structural and policy reforms. With a GDP of over $1 trillion in 2020, Indonesia ranks 16th among the world's largest economies.

On the other hand, Saudi Arabia is an absolute monarchy and the largest oil producer, accounting for 12% of global oil exports. The country has a unique market economy where oil exports dominate its economy, making it the largest oil exporter globally. As the largest Arab country, Saudi Arabia boasts one of the highest oil reserves worldwide.

**Economic Comparative Analysis**

The most striking difference between Indonesia and Saudi Arabia lies in their economic structures. **

Indonesia has a mix of statutory, civil law-based system and a diverse economy that serves as the "gateway to Southeast Asia."** The country has invested heavily in sectors such as manufacturing, agriculture, and services, making it one of the fastest-growing economies in the Asia-Pacific region. Indonesia is also one of the world's largest makers of cars, bicycles, and electronics, alongside exporting significant quantities of palm oil, rubber, and coffee.

**Saudi Arabia's economy can be characterized by its state-private partnership model.** The country relies heavily on oil and natural gas exports, producing almost 12 million barrels of oil per day. Its GPD of over $750 billion places it 19th in the world rankings.

One of the strengths of the Indonesian economy is its rapidly growing consumer market. By 2030, Indonesia is expected to join the ranks of high-income countries, alongside Indonesia having made solid strides in the electronics and automotive sectors.

**"In the last five decades, the Indonesian government has implemented economic policies to boost private enterprise and increase transparency. The illness of corruption has significantly decreased since then; still we should acknowledge that event still exists."** - Hikmatullah Amran, Economist at Indonesia's Central Statistics Agency.

**Saudi Arabia's Growth Drivers**

The Saudi economy has transformed over the years, boasting growth driven by the refining and petrochemicals industries. With sustained investments in human capital and infrastructure, the country is committing to diversify its economy through the Vision 2030 plans.

Controversy still surrounds Saudi Arabia's projects; thus controversy appearing now might be termed Arabian paradox. **"There have undoubtedly been returns seen."** Sources who wish to remain unnamed.

Despite differences in the two countries' economic systems, each has its Islamic dimension, they face similar external factors like global oil price fluctuations which put the economy for both countries under immense pressure.

The two countries share similar work-life views or representations, from salary, accommodation, holidays, and work environment ensuring enabling society dynamic.

* Working hours range from 7-12 hours each day.

* Holidays differ Transitions typically last in the range of 8 days, Friday markets operating every weekend

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Conclusion-

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