What is the purpose of Saudi Arabia's massive Neom project?

Saudi Arabia is developing the Neom project as an economic lifeline for the post-oil era. As Johnny Harris explains, the Saudi government needs something to keep the nation financially stable when oil revenues eventually decline, so they're investing in several massive development projects. While many of these ambitious ventures may fail, even if a few succeed as planned, they could become 'their next oil' - a new economic foundation to replace fossil fuel dependency. The Neom project represents a strategic bet on creating a futuristic urban landscape that could attract global investment and transform the kingdom's economy, potentially lifting Saudi Arabia into a sustainable future beyond petroleum.