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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 process of transitioning an economy away from dependence on a single sector or source of earnings to several sectors and markets. This type 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 quick socio-economic transformation.
The GCC area is going through a transformative phase focused on economic diversity and sustainable development.
A strong chauffeur behind financial diversification and green shift strategies in the GCC is the well-documented effect of environment change in the area being experienced now and in the future. The World Bank approximates that as much as 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 heats.
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