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RESEARCH PRODUCT

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

Veronika Cummings

subject

business.industryEconomic policymedia_common.quotation_subject05 social sciencesDiversification (marketing strategy)050601 international relations0506 political science0502 economics and businessWorkforceRevenue050207 economicsHuman resourcesbusinessEmpowermentmedia_common

description

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.

yearjournalcountryeditionlanguage
2018-01-01
https://doi.org/10.1007/978-981-10-5786-1_10