The Gulf Cooperation Council (GCC) is a regional political organisation comprising the energy rich Gulf monarchies – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Since its establishment in Abu Dhabi in 1981, the GCC has promised to achieve ever closer union between the energy rich Gulf countries.
The GCC has some of the fastest growing economies in the world, mostly due to a boom in oil and natural gas revenues coupled with a building and investment boom backed by decades of saved petroleum revenues. In an effort to build a tax base and economic foundation before the reserves run out, the UAE's investment arms, including Abu Dhabi Investment Authority, retain over $900 billion in assets. Other regional funds also have several hundreds of billions of dollars of assets under management.
The region is also an emerging hotspot for events, including the 2006 Asian Games in Doha, Qatar. Doha also submitted an unsuccessful application for the 2016 Summer Olympic Games. Qatar was later chosen to host the 2022 FIFA World Cup.