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Gordon White & Robert Wade, 1988. "," Palgrave Macmillan Books, in: Gordon White (ed.), Developmental States in East Asia, chapter 1, pages 1-29, Palgrave Macmillan. International Monetary Fund, 2012. "," IMF Staff Nation Reports 2012/271, International Monetary Fund. Farouk El-Kharouf & Sulayman Al-Qudsi & Shifa Obeid, 2010. "," Asian Economic Documents, MIT Press, vol.
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Economic diversification is the procedure of transitioning an economy far from dependence on a single sector or income source to several 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 quick socio-economic change.

The GCC region is going through a transformative phase focused on financial diversity and sustainable development.
A strong driver behind economic diversification and green transition strategies in the GCC is the well-documented impact of environment modification in the area being experienced now and in the future. The World Bank approximates that approximately 100 million individuals in the Middle East, including the GCC, will struggle with water stress by 2025, with parts of the region expected to become uninhabitable by the end of the century due to water shortage and high temperature levels.
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