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Gordon White & Robert Wade, 1988. "," Palgrave Macmillan Books, in: Gordon White (ed.), Developmental States in East Asia, chapter 1, pages 1-29, Palgrave Macmillan. International Monetary Fund, 2012. "," IMF Staff Nation Reports 2012/271, International Monetary Fund. Farouk El-Kharouf & Sulayman Al-Qudsi & Shifa Obeid, 2010. "," Asian Economic Documents, MIT Press, vol.
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Economic diversification is the procedure of transitioning an economy away from reliance on a single sector or income source to numerous sectors and markets. This type of financial shift is presently underway in the Gulf Cooperation Council (GCC) area, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing rapid socio-economic change.

The GCC region is undergoing a transformative phase focused on economic diversification and sustainable development.
A strong chauffeur behind economic diversification and green transition strategies in the GCC is the well-documented impact of climate modification in the area being experienced now and in the future. The World Bank estimates that approximately 100 million people in the Middle East, including the GCC, will struggle with water stress by 2025, with portions of the region expected to end up being uninhabitable by the end of the century due to water shortage and high temperatures.
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