Kingdom of Saudi Arabia during the Global Economic Crisis 1929-1933

Abstract

The global economic crisis originated in the United States in 1929, subsequently affecting European nations and many regions worldwide, ultimately influencing the Kingdom of Saudi Arabia. Similar to other nations, the Kingdom and its citizens experienced the economic repercussions of the global crisis. The crisis resulted in a decrease in its primary economic resource, Hajj, which contributed to the deterioration of the government's financial condition and its inability to meet its financial obligations, both domestically and internationally. The impact was significant on the Kingdom's population, leading many individuals to migrate to the major cities in search of employment and sustenance due to hunger and poverty.