Prince bin Salman

They believed that this young power of Saudi Arabia, Prince bin Salman would propel Saudi Arabia to be the top hegemon in the Middle East.
Alas, based on this:

http://www.independent.co.uk/voices/saudi-arabia-syria-yemen-oil-prince-salman-down-in-flames-a7513636.html

he has not done too well.

Additionally, I understand that the same said Prince intends to diversify the economic base of his nation so that it will not be dependent solely on oil.

For this, he must have a population mass base who have:
                      1. a strong work ethic
                      2. its people have in them a philosophical
                          orientation for ruthless Western 
                          capitalistic competitive approaches
                      3. an experiential base for rigour and 
                          disciple
                      4. the endurance for punishment and 
                          suffering

What we know is that the Saudi citizenry is spoilt, indulgent, self-serving, greedy and selfish.

When oil runs out in Saudi Arabia, as oil has run out in the English Channel oil fields, the House of Saud will emigrate en mass to their chateaus and villas in Europe and their mansions in the US; and they will reside in high end condos in NYC, London and Paris.