Saudi Arabia is not “reforming.”
It is running away from the religion it spent decades exporting to the entire world. The royal family realized too late that the same ideology they weaponized has now become the biggest threat to their survival. So they are trying to distance themselves from Islam in every possible way. They silence clerics. They strip power from the religious police. They flood the country with concerts, influencers, and Western entertainment so people forget the Islamic movements the monarchy created. But none of this means the Islamists are gone. They are only silent because they were crushed. They are humiliated, angry, and convinced the royal family betrayed Islam. If the Saudi economy hits a crisis, if oil prices fall, or if the regime shows one moment of weakness, the people who have been forced underground will come back with a level of vengeance this monarchy has never seen. They will tear the royal family apart if they ever get the chance. This is why investing in Saudi Arabia is a gamble. It is built on oil, suppression, and a fragile social contract. Israel is different. When you invest in Israel, you are investing in a society that stands on real institutions and real stability. Saudi Arabia is fighting its own past. Israel has already built its future.