As someone interested in that region of the world, and seeing the rise in Electronic vehicles, renewable energy, it seems that the post-oil time for GCC economies might come soon, maybe even sooner than expected.
I read a lot about their diversification efforts, however i fail to see any economist really discussing the objective outlook of what a big chance they have to achieve their goals of economic diversification.
As i see it, the Emirates have already achieved that goal. The Saudis have started later, but nonetheless are trying everything to meet their goals as fast as possible, albeit with projects which often fail to materialize. Qatar, which has not only oil but also a lot of gas, is working in a slower pace as their timeframe is a bit longer.
The only countries that don't seem to really go forward that much are Kuwait and Oman.
However, i never heard anyone saying "UAE has diversified", or how realistic Saudi goals REALLY are beyond what their government says, but also the consultant firms which are often paid from the government for contracts.
What is the objective outlook for Gulf economies' diversification?
byu/PreWiBa inAskEconomics
Posted by PreWiBa