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26( 4 ), pages 543-566, April. Maximilian Benner, 2019. "," Economies, MDPI, vol. 7( 2 ), pages 1-22, May. All product on this website has been offered by the respective publishers and authors. You can help right mistakes and omissions. When asking for a correction, please discuss this product's deal with: RePEc: ehl: lserod:55252. See general info about how to fix material in RePEc.
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Economic diversity is the process of transitioning an economy far from dependence on a single sector or source of income to multiple sectors and markets. This kind 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 fast socio-economic transformation.
The GCC area is undergoing a transformative phase focused on financial diversification and sustainable development.
A strong driver behind economic diversification and green shift plans in the GCC is the well-documented impact of climate change in the region being experienced now and in the future. The World Bank approximates that as much as 100 million people in the Middle East, including the GCC, will experience water stress by 2025, with parts of the region anticipated to become uninhabitable by the end of the century due to water shortage and heats.
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