Energy Challenges, Green Growth, Blue Indicators, and Sustainable Economic Growth: A Study of Saudi Arabia

Abstract

In recent years, the international community is struggling to achieve sustainable economic and environmental goals. Despite of the large literature, the impact of blue economy on sustainable growth and environment is missing, for the case of Saudi Arabia. The current study incorporates the energy, green, and blue indicators to examine the impact on sustainable goals of Saudi Arabia. For econometric estimations, we use the nonlinear ARDL approach to estimate the full sample and post-Vision 2030 sample. The findings confirm that blue economic activities are not mature enough to participate its role to achieve sustainable targets of Saudi Vision 2030. The outcomes of current study depict that blue indicators are neglected to attain sustainable economic and environmental goals. In view of econometric outcomes, we propose that Saudi Arabia have to emphasize on sea trade and ocean tourism. Moreover, the findings are useful to estimate the sustainable targets of Saudi Vision 2030.