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"," Urban Research, Urban Studies Journal Limited, vol. 42( 8 ), pages 1369-1390, July. Nir Kshetri, 2023. "," Financial Innovation, Springer; Southwestern University of Finance and Economics, vol. 9( 1 ), pages 1-38, December. Corneo Giacomo, 2011. "," Evaluation of Middle East Economics and Financing, De Gruyter, vol. 7( 1 ), pages 1-19, May. M Douglass, 1994.
26( 4 ), pages 543-566, April. Maximilian Benner, 2019. "," Economies, MDPI, vol. 7( 2 ), pages 1-22, May. All product on this site has been offered by the respective publishers and authors. You can help proper errors and omissions. When requesting a correction, please mention this product's deal with: RePEc: ehl: lserod:55252. See general information about how to correct material in RePEc.
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Economic diversity is the procedure of transitioning an economy far from dependence on a single sector or income source to multiple sectors and markets. This type of economic 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 improvement.
The GCC region is going through a transformative phase focused on financial diversification and sustainable advancement. Historically reliant on oil and gas, GCC economies are now aiming to diversify their revenue sources through ambitious government-led initiatives like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, vulnerable and/or high-carbon markets and sectors to economies.
A strong driver behind economic diversity and green shift strategies in the GCC is the well-documented effect of climate change in the area being experienced now and in the future. The World Bank estimates that approximately 100 million people in the Middle East, consisting of the GCC, will struggle with water tension by 2025, with parts of the area expected to become uninhabitable by the end of the century due to water deficiency and high temperature levels.
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