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Content: 42][43]Qatar and Oman come in second and third respectively within the regional ranks. Peace[edit]
The six Arab states of the Persian Gulf lie in a volatile region and their six governments, with varying degrees of success and effort, try and advance peace in their own countries and other countries. However, Arab countries in the Persian Gulf region - specifically Saudi Arabia and Qatar - stand accused of funding Islamist militants such as Hamasand the Muslim Brotherhood.[44] According to the Institute of Economics and Peace (IEP)'s Global Peace Index of 2016, the six governments had varying degrees of success in maintaining peace amongst their respective borders with Qatar ranked number 1 amongst its regional peers as the most peaceful regional and Middle Eastern nation (and ranked 34 worldwide) while Kuwait ranks second in both the regional and the Middle East region (and 51 worldwide) followed by the UAE in the third spot (61 worldwide). [ 45]
Economy[edit]
Map of the Gulf Cooperation Council's members (Iraq is not a member). All of these Arab states have significant revenues from petroleum. The United Arab Emirateshas been successfully diversifying the economy. 79% of UAE's total GDPcomes from non-oil sectors.[46] Oil accounts for only 2% of Dubai's GDP.[47] Bahrain has the Persian Gulf's first "post-oil" economy because the Bahraini economy does not rely on oil.[48] Since the late 20th century, Bahrain has heavily invested in the bankingand tourismsectors.[49] The country's capital, Manamais home to many large financial structures. The UAE and Bahrain have a high Human Development Index(ranking 31 and 42 worldwide respectively in 2019) and was recognised by the World Bankas high income economies. In addition, the small coastal states (especially Bahrain and Kuwait) were successful centers of trade and commerce prior to oil. Eastern Arabia also had significant pearl banks, but the pearling industry collapsed in the 1930s after the development of cultured pearlmethods by Japanese scientists. [