Abstract
The aim of this research article is to develop and substantiate a SMART diversification strategy for the development of the Arabian Peninsula countries based on an analysis of their current national economic structure, global oil prices, and selected transformation strategies.The research methodology includes a quantitative analysis of time series from 1970 to 2023 for Saudi Arabia, Kuwait, Oman, and the United Arab Emirates, as well as a qualitative analysis of the correlation between oil prices and economic conditions.Within the framework of this study, new models and scientific approaches aimed at the sustainable development of nonresource sectors of the economy have been proposed, such as digital technologies, renewable energy, and tourism.Special attention is given to a comprehensive assessment of the impact of the proposed approaches on macroeconomic indicators and the economic resilience of the region, as well as on the adaptation of these models under conditions of global changes in capital and resource markets.To maintain political stability, it is essential to actively pursue a diversification policy focusing on increasing the share of renewable energy sources in the energy balance, enhancing food production, and advancing digital technologies and tourism.