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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Economic diversification is the procedure of transitioning an economy away from dependence on a single sector or income to several sectors and markets. This kind of financial shift is presently underway in the Gulf Cooperation Council (GCC) region, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing fast socio-economic improvement.

The GCC region is going through a transformative stage focused on financial diversification and sustainable development.
A strong motorist behind economic diversity and green transition strategies in the GCC is the well-documented impact of environment change in the area being experienced now and in the future. The World Bank estimates that approximately 100 million individuals in the Middle East, consisting of the GCC, will experience water stress by 2025, with parts of the region anticipated to become uninhabitable by the end of the century due to water scarcity and heats.
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