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Economic diversification is the procedure of transitioning an economy away from reliance on a single sector or income to numerous sectors and markets. This sort of economic shift is presently 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 going through a transformative phase focused on financial diversity and sustainable development.
A strong chauffeur behind financial diversity and green transition plans in the GCC is the well-documented effect of environment modification in the region 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 experience water stress by 2025, with portions of the area anticipated to end up being uninhabitable by the end of the century due to water deficiency and heats.
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