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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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How Economic Diversification Will Transform GCC Markets
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Economic diversity is the process of transitioning an economy far from dependence on a single sector or income source to multiple sectors and markets. This sort 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 rapid socio-economic change.

The GCC region is undergoing a transformative phase focused on economic diversification and sustainable advancement.
A strong chauffeur behind economic diversity and green transition strategies in the GCC is the well-documented effect of environment change 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, including the GCC, will experience water stress by 2025, with parts of the area anticipated to end up being uninhabitable by the end of the century due to water scarcity and high temperatures.
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