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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 provided by the respective publishers and authors. You can assist proper mistakes and omissions. When requesting a correction, please discuss this item's manage: RePEc: ehl: lserod:55252. See basic details about how to correct material in RePEc.
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Economic diversification is the procedure of transitioning an economy far from dependence on a single sector or income to multiple sectors and markets. This kind of economic 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 quick socio-economic improvement.
The GCC area is undergoing a transformative stage focused on economic diversification and sustainable advancement.
A strong motorist behind financial diversification and green transition strategies in the GCC is the well-documented effect of climate modification 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, consisting of the GCC, will struggle with water tension by 2025, with parts of the region anticipated to end up being uninhabitable by the end of the century due to water scarcity and heats.
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