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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 dependence on a single sector or income to several sectors and markets. This sort 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 transformation.
The GCC region is undergoing a transformative phase focused on economic diversification and sustainable development.
A strong motorist behind economic diversification and green shift plans in the GCC is the well-documented impact of climate modification in the region being experienced now and in the future. The World Bank approximates that approximately 100 million individuals in the Middle East, including the GCC, will experience water stress by 2025, with portions of the area expected to end up being uninhabitable by the end of the century due to water scarcity and heats.
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