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Bahrain's tax landscape matures with corporate income tax and e-invoicing updates
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Bahrain remained a tax-free jurisdiction until 2017, when the kingdom introduced excise tax – followed by the implementation of value-added tax (VAT) two years later. The country’s tax landscape continues to evolve, with a number of other notable tax and reporting regulations launched in recent years. Among these, a domestic minimum top-up tax (DMTT) law will take effect for Bahrain entities that…

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Bahrain's expanding tourism sector supports economic diversification
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Bahrain’s strategic location, business-friendly climate and increasingly diversified economy have helped the island country emerge as an appealing destination for international investors in recent decades. Looking ahead, the kingdom’s proactive approach to economic reform and stable governance position it for ongoing expansion in the coming years. As the global economy continues to recover from…

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Bahrain's shift from hydrocarbons boosts non-oil sector growth
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Buoyed by a vibrant private sector and increasing interest from foreign investors, Bahrain’s economy is on an upward trajectory. Relatively low inflation has added to the kingdom’s appeal as a place to do business, while interest rates were lowered successively in September and November 2024 to 5.25% (see Banking chapter). Indeed, an advanced financial services sector provides a strong foundation…

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Bahrain incorporating sustainability to achieve environmental goals
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Under Bahrain Economic Vision 2030 the kingdom has sought to create a new paradigm for economic growth, reflecting the country’s diversification away from hydrocarbons and its growing commitment to environmental preservation. These efforts span various sectors and are guided by national policies, international partnerships and a commitment to global treaties and sustainability frameworks. Alongside…

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Bahrain financial services thrive amid global economic challenges
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Bahrain has worked hard over the years to position itself as a global financial services centre. The financial sector is the highest contributor to GDP by sector, and its development is integral to the success of national strategies such as Bahrain Economic Vision 2030 and the Economic Recovery Plan (ERP). Bahrain is also a globally competitive market in Islamic banking, with the segment witnessing…

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Bahrain's green targets and insurance scheme drive economic growth
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Bahrain’s insurance sector posted another year of growth in 2023, with leading conventional and Islamic underwriters reporting healthy premium and earnings results. The outlook is even more positive moving through 2024 and beyond. The industry’s strong performance comes despite several years of turbulence in the global economy and knock-on challenges for Bahrain. In 2024 Bahrain is projected to…

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Crypto-asset regulation in Bahrain key to capital market growth plans
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Bahrain’s capital markets are targeting increased activity, with the GCC region in the midst of a sustained initial public offering (IPO) boom. Key corporate and government entities are looking to debt and security markets to fund growth, with sovereign bonds in particular proving highly attractive to investors keen to de-risk their portfolios at a time of global economic unpredictability. Bahrain…

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Investment in Bahrain's oil and gas fields drives economic growth
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Bahrain, which was the first country in the Gulf where oil was discovered, is navigating the challenges and opportunities of the energy transition. While focusing on renewables production, energy efficiency and sustainability, new drilling projects in Bahrain’s offshore oil fields, combined with significant investment projects, indicate that hydrocarbons will continue to play an important role in…

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Bahrain leverages cultural heritage to boost tourism
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With a long history as a centre for hotels and hospitality in the Gulf region, Bahrain is embarking on a journey to propel its tourism sector forwards. This move comes on the back of solid growth over the last several years, despite the severe setback to the global travel and leisure industry as a result of the Covid-19 pandemic. Amid ongoing global economic uncertainty exacerbated by recent conflicts,…

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Where to stay in Manama
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ELITE RESORT & SPA Building 101 Sheikh Hamad Causeway T: +973 1731 3333 / 1755 8200 cro@elitegrouphotels.com www.elitegrouphotels.com Rooms: 154 suites with one, two or three-bedrooms. Non-smoking rooms and VIP rooms available. Business & Conference Facilities: Multifunctional event, conference and party rooms equipped with audiovisual equipment with space for social gatherings for up…