By Innovation-sa on June 25, 2018 in News
Women in Saudi Arabia finally hit the roads early on Sunday steering their way through the busy streets after the world’s last remaining ban on women driving was lifted.
The historic reform is expected to usher in a new era of social mobility as well as boost the Kingdom’s income, and according to Bloomberg estimate, add $90 billion to economic output by 2030.
Authorities said that more than 120,000 women have applied for licenses, and a handful of driving schools that serve women have months-long waiting lists already.
Amongst several economic and social changes spearheaded by Saudi Arabia’s Crown Prince Muhammed bin Salman last year, ending the driving ban on women is one of the most socially-consequential reforms and 24 June 2018 will be remembered as a landmark day in the history of Saudi Arabia.
“Ending the ban means women will be more empowered and more mobile and I think they will participate more in the job market over time, so I think its going to contribute to employment of females in Saudi Arabia.” Said Saudi Energy Minister Khalid Al-Falih in Vienna, where he was attending an OPEC meeting. “A secondary effect will probably be higher gasoline demand”, he added.
The benchmark Tadawul All Share Index rose 1.76 percent on Sunday, buoyed partly by the insurance sector, which could benefit from more drivers on the roads.
Meanwhile, social media is abuzz with tweets and posts from Saudi women, officials, businessmen and even international celebrities celebrating the historic moment and congratulating Saudi women on this revolutionary day.
Bloomberg – 24 June 2018