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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 procedure of transitioning an economy away from reliance on a single sector or income to several sectors and markets. This kind 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 fast socio-economic change.
The GCC region is undergoing a transformative stage focused on economic diversity and sustainable development.
A strong motorist behind financial diversity and green transition strategies in the GCC is the well-documented impact of climate modification in the area being experienced now and in the future. The World Bank estimates that as much as 100 million individuals in the Middle East, including the GCC, will suffer from water tension by 2025, with portions of the area anticipated to end up being uninhabitable by the end of the century due to water shortage and heats.
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