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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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"," Environment and Planning C,, vol. 16( 1 ), pages 69-84, February. Jieming Zhu, 2013. "," Environment and Preparation C,, vol. 31( 2 ), pages 257-275, April. Amar, J. & Lecourt, C. & Carpantier, J.F., 2022. "," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C). Jieming Zhu & Loo-Lee Sim & Xuan Liu, 2007.
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Economic diversification is the procedure of transitioning an economy far from dependence on a single sector or income to multiple sectors and markets. This sort of economic shift is presently underway in the Gulf Cooperation Council (GCC) region, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing quick socio-economic change.
The GCC area is going through a transformative phase focused on financial diversity and sustainable advancement. Historically reliant on oil and gas, GCC economies are now aiming to diversify their earnings sources through ambitious government-led efforts 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 motorist behind financial diversification and green shift strategies in the GCC is the well-documented effect of environment change in the area being experienced now and in the future. The World Bank approximates that approximately 100 million people in the Middle East, including the GCC, will struggle with water tension by 2025, with portions of the region anticipated to become uninhabitable by the end of the century due to water scarcity and high temperature levels.
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