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Economic diversity is the process of transitioning an economy far from reliance on a single sector or income to numerous sectors and markets. This kind 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 change.

The GCC area is going through a transformative stage focused on economic diversity and sustainable advancement. Historically reliant on oil and gas, GCC economies are now making every effort to diversify their revenue sources through enthusiastic government-led initiatives like Saudi Vision 2030 and We the UAE 2031 that shift focus from high-risk, vulnerable and/or high-carbon markets and sectors to economies.
A strong driver behind economic diversification 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 approximates that as much as 100 million people in the Middle East, consisting of the GCC, will suffer from water tension by 2025, with parts of the area anticipated to end up being uninhabitable by the end of the century due to water shortage and heats.
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