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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Mastering Wealth Diversification in a Global Economy
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Economic diversity is the process of transitioning an economy away from reliance on a single sector or source of earnings to multiple 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 transformation.

The GCC area is undergoing a transformative stage focused on economic diversification and sustainable advancement.
A strong chauffeur behind financial diversification 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 approximates that approximately 100 million people in the Middle East, including the GCC, will struggle with water tension by 2025, with parts of the region expected to end up being uninhabitable by the end of the century due to water scarcity and high temperatures.
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