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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Future GCC Investment Trends for 2026 World Markets
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"," Urban Studies, Urban Research Journal Limited, vol. 42( 8 ), pages 1369-1390, July. Nir Kshetri, 2023. "," Financial Development, Springer; Southwestern University of Financing and Economics, vol. 9( 1 ), pages 1-38, December. Corneo Giacomo, 2011. "," Evaluation of Middle East Economics and Financing, De Gruyter, vol. 7( 1 ), pages 1-19, May. M Douglass, 1994.
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Economic diversification is the procedure of transitioning an economy far from dependence on a single sector or source of income to several sectors and markets. This sort of financial shift is currently 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 improvement.
The GCC region is going through a transformative stage concentrated on financial diversification and sustainable advancement. Historically reliant on oil and gas, GCC economies are now striving to diversify their profits sources through ambitious government-led efforts like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, vulnerable and/or high-carbon markets and sectors to economies.
A strong driver behind economic diversification and green transition 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 as much as 100 million people in the Middle East, including the GCC, will suffer from water tension by 2025, with parts of the region expected to end up being uninhabitable by the end of the century due to water scarcity and heats.
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