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Economic diversity is the process of transitioning an economy far from dependence on a single sector or source of earnings to numerous sectors and markets. This kind 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 fast socio-economic change.
The GCC area is undergoing a transformative stage focused on economic diversification and sustainable advancement.
A strong chauffeur behind financial diversity and green transition plans in the GCC is the well-documented impact of environment change in the region being experienced now and in the future. The World Bank approximates that as much as 100 million individuals in the Middle East, consisting of the GCC, will struggle with water stress by 2025, with portions of the area expected to end up being uninhabitable by the end of the century due to water shortage and high temperature levels.
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