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26( 4 ), pages 543-566, April. Maximilian Benner, 2019. "," Economies, MDPI, vol. 7( 2 ), pages 1-22, May. All material on this website has actually been offered by the respective publishers and authors. You can help right errors and omissions. When requesting a correction, please discuss this product's manage: RePEc: ehl: lserod:55252. See general info about how to fix material in RePEc.
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Economic diversity is the procedure of transitioning an economy away from reliance on a single sector or income to numerous sectors and markets. This kind of financial 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 improvement.

The GCC region is undergoing a transformative phase concentrated on financial diversity and sustainable development. Historically reliant on oil and gas, GCC economies are now aiming to diversify their earnings sources through enthusiastic government-led initiatives like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, susceptible and/or high-carbon markets and sectors to economies.
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 up to 100 million individuals in the Middle East, including the GCC, will experience water tension by 2025, with parts of the area anticipated to become uninhabitable by the end of the century due to water scarcity and high temperatures.
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