Economic Diversification and Empowerment of Local Human Resources: Could Singapore Be a Model for the GCC Countries?

2018

This chapter analyses the similarities and differences between the GCC and Singapore with regard to economic diversification strategies. The key for a successful and, thus, sustainable diversification process for the GCC is to reduce the high dependence of the economic revenues away from the hydrocarbon sector. However, an ongoing concern is the continuing need of high foreign workforce that collides with the demands for greater employment opportunities for national citizens. The challenges of those nationalisation strategies will be examined at the example of the Sultanate of Oman.