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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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52( 15 ), pages 2822-2848, November. 15( 3 ), pages 295-321, October. 29( 1 ), pages 23-37, January.
Key Steps for Smart Portfolio Diversification42( 8 ), pages 1369-1390, July. 9( 1 ), pages 1-38, December. 7( 1 ), pages 1-19, May.
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Economic diversification is the process of transitioning an economy far from reliance on a single sector or source of earnings to numerous sectors and markets. This type of financial 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 change.

The GCC area is going through a transformative stage focused on financial diversification and sustainable advancement.
A strong chauffeur behind economic diversification and green transition strategies in the GCC is the well-documented effect of climate modification in the region being experienced now and in the future. The World Bank approximates that up to 100 million people in the Middle East, consisting of the GCC, will suffer from water tension by 2025, with portions of the area expected to end up being uninhabitable by the end of the century due to water scarcity and high temperature levels.
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