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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 site has been offered by the particular publishers and authors. You can help proper mistakes and omissions. When asking for a correction, please discuss this item's deal with: RePEc: ehl: lserod:55252. See general information about how to remedy product in RePEc.
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Economic diversity is the process of transitioning an economy far from dependence on a single sector or income to several sectors and markets. This kind 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 fast socio-economic improvement.
The GCC region is going through a transformative stage concentrated on financial diversification and sustainable development. Historically reliant on oil and gas, GCC economies are now making every effort to diversify their earnings sources through enthusiastic government-led efforts like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, susceptible and/or high-carbon markets and sectors to economies.
A strong driver behind financial diversification and green transition plans in the GCC is the well-documented impact of environment change in the region being experienced now and in the future. The World Bank estimates that as much as 100 million people 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 shortage and high temperatures.
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