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Economic diversity is the procedure of transitioning an economy away from dependence on a single sector or source of earnings to several sectors and markets. This sort of financial shift is presently underway in the Gulf Cooperation Council (GCC) region, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing rapid socio-economic transformation.
The GCC area is undergoing a transformative phase focused on economic diversity and sustainable advancement.
A strong driver behind economic diversity and green transition plans in the GCC is the well-documented impact of environment modification in the region being experienced now and in the future. The World Bank approximates that as much as 100 million people in the Middle East, including the GCC, will suffer from water stress by 2025, with parts of the region anticipated to become uninhabitable by the end of the century due to water shortage and heats.
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