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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 type of financial shift is currently underway in the Gulf Cooperation Council (GCC) area, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing fast socio-economic transformation.

The GCC region is undergoing a transformative stage focused on financial diversity and sustainable advancement.
A strong chauffeur behind economic diversity and green shift strategies in the GCC is the well-documented impact of climate change in the area being experienced now and in the future. The World Bank estimates that approximately 100 million people in the Middle East, including the GCC, will suffer from water tension by 2025, with parts of the region expected to end up being uninhabitable by the end of the century due to water shortage and high temperatures.
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