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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 source to numerous 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 transformation.

The GCC region is going through a transformative stage focused on financial diversity and sustainable development.
A strong driver behind economic diversification and green transition plans in the GCC is the well-documented effect of environment modification in the area being experienced now and in the future. The World Bank approximates that as much as 100 million people in the Middle East, including the GCC, will suffer from water stress by 2025, with portions of the area anticipated to become uninhabitable by the end of the century due to water shortage and high temperatures.
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