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26( 4 ), pages 543-566, April. Maximilian Benner, 2019. "," Economies, MDPI, vol. 7( 2 ), pages 1-22, May. All material on this site has been provided by the respective publishers and authors. You can help proper mistakes and omissions. When asking for a correction, please discuss this item's manage: RePEc: ehl: lserod:55252. See basic info about how to remedy material in RePEc.
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Economic diversification is the procedure of transitioning an economy away from dependence on a single sector or source of earnings to several sectors and markets. This kind of financial shift is presently 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 change.
The GCC region is going through a transformative phase focused on financial diversity and sustainable development.
A strong driver behind economic diversity and green shift plans in the GCC is the well-documented impact of environment modification in the region being experienced now and in the future. The World Bank estimates that as much as 100 million individuals in the Middle East, consisting of the GCC, will experience water stress by 2025, with parts of the region expected to become uninhabitable by the end of the century due to water shortage and high temperatures.
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