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Analysis

Bahrain takes steps to increase oversight and amend real estate laws
OBG
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Having entered the Covid-19 pandemic with a relatively high level of economic diversification, the resulting drops in business and tourism activity pushed Bahrain’s vacancy rates up, which in turn put pressure on building owners. Despite the oversupply seen in the kingdom’s residential and commercial spaces, a government-led response and legislative reforms successfully accelerated the economic…

Analysis

Bahrain's influence expands as trade relations improve
OBG
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In February 2022 Bahrain commenced construction on the US Trade Zone (USTZ), following a memorandum of understanding signed in January 2021 between the US Department of Commerce and Bahrain’s Ministry of Industry and Commerce. Located in Salman Industrial City, it is expected to become operational by 2024. The project has received $40m as an initial investment, which will eventually be expanded to…

Analysis

The MENA region invests in green steel production to reduce emissions
OBG
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As global industry seeks to reduce or eliminate its carbon footprint, a number of MENA countries are investing in green steel production to capture market share and help meet emissions targets. Industry generates 20% of global greenhouse gas emissions annually, with the steel manufacturing segment accounting for the largest share, at 7%, due in part to a reliance on coal to heat smelting furnaces.…

Analysis

Bahrain launches new innovation licence
OBG
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As part of ongoing efforts to stimulate growth in the digital economy, the Telecommunications Regulatory Authority (TRA) launched a new Innovation Licence in October 2022, encouraging companies to experiment with next-generation services using wireless technologies. By eliminating lengthy regulatory approval processes, companies can test and deploy new technologies more quickly, fostering greater innovation. Regulatory…

Analysis

The GCC develops robust cybersecurity strategies to counter evolving threats
OBG
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With global geopolitical instability elevating the threat of cyberattacks against businesses and government agencies alike, the GCC is rapidly developing more robust and comprehensive cybersecurity strategies to respond to the evolving nature of such threats. Since experiencing their first major cyberattacks in the early 2010s, the six members of the GCC have looked at ways to bolster their cybersecurity…

Analysis

Increased aviation capacity support Bahrain's tourism and logistics goals
OBG
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The expansion of the logistics and tourism industries is central to the government’s economic development strategy, and both sectors have received sizeable investment in recent years. A significant milestone for both sectors was the 2021 opening of a new terminal at Bahrain International Airport (BIA) – operated by Bahrain Airport Company (BAC) – which at 210,000 sq metres has four times the…

Analysis

Emerging markets leverage technology for tourism growth
OBG
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As emerging markets develop new attractions and tap into new visitor source markets, they are leveraging technology and sustainable development in line with emissions targets. According to the World Travel & Tourism Council (WTTC), travel demand is expected to generate 126m employment opportunities worldwide by 2032, with more than 60% of these jobs in the Asia-Pacific region. The lifting of travel…

Analysis

Bahrain promotes itself as an event destination
OBG
plus

Despite being one of the smallest countries in Asia, Bahrain distinguishes itself by combining its strategic location and vibrant cultural heritage with progressive infrastructure and facilities for the meetings, incentives, conferences and exhibitions (MICE) segment. The tourism strategy serves as a cornerstone for the four-year Economic Recovery Plan (ERP), which aims to mitigate the adverse impacts…

Analysis

Faith-based tourism is gaining prominence globally
OBG
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As many as 330m people travel for religious reasons each year, according to a UN World Tourism Organisation estimate from December 2014, forming a significant market for countries with attractions of spiritual or sacred value. These trips include pilgrimages, as well as sightseeing trips to important historical and religious sites throughout the year. Additionally, a 2018 report by IGI Global stated…

Analysis

Gulf countries forge partnerships to boost tourism
OBG
plus

In 2022 the Middle East witnessed the sharpest relative increase in international arrivals of any region in the world, solidifying its rebound from the disruption of the Covid-19 pandemic and further raising its profile as an increasingly attractive destination for inbound tourism. According to the UN World Tourism Organisation (UNWTO), in 2022 international arrivals in the Middle East recovered to…