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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 away from reliance on a single sector or income to numerous sectors and markets. This sort 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 stage focused on economic diversification and sustainable advancement.
A strong chauffeur behind economic diversification and green shift plans 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 approximately 100 million individuals in the Middle East, consisting of the GCC, will experience water tension by 2025, with parts of the region anticipated to end up being uninhabitable by the end of the century due to water scarcity and high temperatures.
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