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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 process of transitioning an economy far from dependence on a single sector or income to several sectors and markets. This type of economic shift is currently 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 going through a transformative phase focused on economic diversity and sustainable development.
A strong motorist behind financial diversity and green shift plans 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 as much as 100 million individuals in the Middle East, consisting of the GCC, will suffer from water stress by 2025, with parts of the area expected to end up being uninhabitable by the end of the century due to water shortage and heats.
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