what is neom

NEOM is a new urban area planned by the Kingdom of Saudi Arabia to be built in its northwestern Tabuk Province. The name "Neom" is a portmanteau, with the first three letters coming from the Ancient Greek prefix νέο (Neo-), meaning "new," and the fourth letter, M, being the first letter of Crown Prince Mohammed bin Salman's name, as well as the first letter of the Arabic word for "future" (Arabic: مستقبل, romanized: Mustaqbal). NEOM is a special economic zone aimed at diversifying the Kingdom's economy and offering solutions that other parts of the world can benefit from. It is a diverse destination that offers something for everyone, with a unique location that provides residents with enhanced livability while protecting 95% of the surrounding natural landscape. The project's estimated cost exceeds $500 billion, and it is part of the Saudi Vision 2030 plan to reduce the country's dependence on oil