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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Economic diversification is the process of transitioning an economy far from reliance on a single sector or income to numerous sectors and markets. This kind of financial shift is currently 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 change.
The GCC area is going through a transformative phase focused on economic diversification and sustainable development.
A strong motorist behind economic diversity and green shift strategies in the GCC is the well-documented impact of environment change in the area being experienced now and in the future. The World Bank estimates that as much as 100 million people in the Middle East, including the GCC, will struggle with water tension by 2025, with parts of the area anticipated to end up being uninhabitable by the end of the century due to water shortage and high temperature levels.
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