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Economic diversity is the process of transitioning an economy away from reliance 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 transformation.
The GCC region is going through a transformative phase focused on financial diversification and sustainable advancement.
A strong chauffeur behind financial diversity 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 estimates that up to 100 million individuals in the Middle East, including the GCC, will struggle with water tension by 2025, with parts of the area anticipated to become uninhabitable by the end of the century due to water shortage and heats.
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