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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 far from reliance on a single sector or income source to several sectors and markets. This type of financial shift is presently underway in the Gulf Cooperation Council (GCC) area, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing quick socio-economic change.
The GCC region is going through a transformative phase focused on financial diversification and sustainable development.
A strong chauffeur behind financial 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 approximates that as much as 100 million individuals in the Middle East, including the GCC, will experience water stress by 2025, with portions of the region expected to become uninhabitable by the end of the century due to water deficiency and high temperature levels.
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