Gulf Economic Diversification: From Oil to Green Energy

Gulf countries are transitioning away from hydrocarbon dependency by amplifying non-oil revenue streams and investing heavily in renewable energy. Ambitious visions (like Saudi Vision 2030) emphasize green hydrogen, solar and wind power, knowledge economies, and sustainable infrastructure. This pivot includes incentives to attract new industries, localization of green technology supply chains, and reforming education to support the evolving labor market. The challenge is balancing investment scale with long-term fiscal sustainability and ensuring that diversification delivers inclusive growth rather than creating new dependencies.