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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Economic diversity is the procedure of transitioning an economy away from reliance on a single sector or source of income 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 fast socio-economic improvement.
The GCC area is undergoing a transformative phase focused on financial diversity and sustainable advancement.
A strong driver behind economic diversity and green shift plans in the GCC is the well-documented effect of climate modification in the region being experienced now and in the future. The World Bank estimates that as much as 100 million individuals in the Middle East, consisting of the GCC, will struggle with water stress by 2025, with parts of the area expected to end up being uninhabitable by the end of the century due to water shortage and high temperature levels.
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