Abstract:

Since the end of 2014, the negative effects of the sharp decline in oil prices on the economies of the Middle East, which are largely dependent on oil gathered pay attention and it has begun to seek alternative policy to overcome the negative impacts on the oil-dependent Middle East countries, and in especially Bahrain, Saudi Arabia and Qatar, some steps are being made about economic diversity in the name of relieving dependence on oil. The research shows that the sharp decline in oil prices has cost the Middle East economies about 340 billion US dollars in the last 2 years. Sharp decline in oil prices and the uncertainty about the future of oil prices have led the Middle East countries to alternative economic areas. While the Middle Eastern countries are going to diversify their economies in order to get rid of dependency on oil, they are in different initiatives in order to reduce oil dependency by investing mainly in other alternative energy sources, tourism, finance and various industries. In this study, English, Turkish and Arabic literature were searched and some economical and statistical data obtained from International Monetary Fund, World Bank and the local statistical institutions of the and Middle East countries and explained with the help of graphics.

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