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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 reliance on a single sector or source of earnings 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 rapid socio-economic change.
The GCC region is going through a transformative phase focused on economic diversity and sustainable advancement.
A strong driver behind financial diversification and green shift strategies in the GCC is the well-documented impact of climate change in the area being experienced now and in the future. The World Bank estimates that up to 100 million people in the Middle East, including the GCC, will experience water tension by 2025, with portions of the region anticipated to end up being uninhabitable by the end of the century due to water shortage and high temperature levels.
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