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Key Economic Shifts for the Future
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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 Finance and Economics, vol. 9( 1 ), pages 1-38, December. Corneo Giacomo, 2011. "," Review of Middle East Economics and Financing, De Gruyter, vol. 7( 1 ), pages 1-19, May. M Douglass, 1994.
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Economic diversity is the procedure of transitioning an economy away from reliance on a single sector or income source to numerous sectors and markets. This type 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 quick socio-economic improvement.
The GCC region is undergoing a transformative stage focused on financial diversification and sustainable advancement.
A strong chauffeur behind economic diversification and green transition plans in the GCC is the well-documented impact of climate modification 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 suffer from water tension by 2025, with portions of the region expected to end up being uninhabitable by the end of the century due to water shortage and heats.
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