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Bahrain’s Bold Move: Privatizing Infrastructure for a Better FutureZuzana Brixiova & Balzs gert & Thouraya Hadj Amor Essid, 2013. "," Working Paper Series 991, African Development Bank. Ricker-Gilbert, Jacob & Mason, Nicole M. & Darko, Francis & Jayne, Thomas S. & Tembo, Solomon, 2013. "," Food Security Collaborative Working Documents 154938, Michigan State University, Department of Agricultural, Food, and Resource Economics.
"," Urban Studies, Urban Studies Journal Limited, vol. 42( 8 ), pages 1369-1390, July. Nir Kshetri, 2023. "," Financial Development, Springer; Southwestern University of Finance 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.
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Economic diversity is the process of transitioning an economy away from dependence on a single sector or income to numerous sectors and markets. This sort 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 improvement.
The GCC region is going through a transformative phase concentrated on financial diversification and sustainable development. Historically reliant on oil and gas, GCC economies are now making every effort 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, susceptible and/or high-carbon markets and sectors to economies.
A strong driver behind economic 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 estimates that up to 100 million people in the Middle East, including the GCC, will experience water stress by 2025, with parts of the area expected to end up being uninhabitable by the end of the century due to water deficiency and heats.
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