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"," Urban Studies, Urban Research Journal Limited, vol. 42( 8 ), pages 1369-1390, July. Nir Kshetri, 2023. "," Financial Innovation, Springer; Southwestern University of Financing and Economics, vol. 9( 1 ), pages 1-38, December. Corneo Giacomo, 2011. "," Evaluation of Middle East Economics and Finance, De Gruyter, vol. 7( 1 ), pages 1-19, May. M Douglass, 1994.
26( 4 ), pages 543-566, April. Maximilian Benner, 2019. "," Economies, MDPI, vol. 7( 2 ), pages 1-22, May. All product on this site has been provided by the particular publishers and authors. You can help appropriate mistakes and omissions. When asking for a correction, please discuss this item's deal with: RePEc: ehl: lserod:55252. See general info about how to correct material in RePEc.
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Economic diversification is the procedure of transitioning an economy away from reliance 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) region, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing fast socio-economic transformation.
The GCC region is going through a transformative stage focused on financial diversification and sustainable development. Historically reliant on oil and gas, GCC economies are now aiming to diversify their earnings sources through ambitious government-led initiatives like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, vulnerable and/or high-carbon markets and sectors to economies.
A strong motorist behind financial diversity and green shift plans in the GCC is the well-documented effect of climate change in the region being experienced now and in the future. The World Bank estimates that as much as 100 million individuals in the Middle East, including the GCC, will struggle with water stress by 2025, with parts of the area expected to end up being uninhabitable by the end of the century due to water scarcity and high temperatures.
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