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Bahraini government initiatives to enhance ICT sector competitiveness
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In addition to driving economic diversification and innovation, Bahrain’s expanding ICT sector is indicative of the country’s commitment to making its economy more competitive globally. With a young, tech-savvy population, and a government dedicated to investing in digital infrastructure and upskilling local talent, Bahrain has become an attractive location for technology start-ups, drawing in…

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Bahrain's digital innovation improves education and health care outcomes
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The health care and education systems in Bahrain have improved significantly over the last six decades. The kingdom brought forth basic compulsory education in 1919 and a health-for-all policy in 1959, which expanded the two sectors substantially. The government introduced a universal health insurance scheme, set to be launched in early 2025, which will further extend coverage and support service improvements.…

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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
OBG
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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
OBG
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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
OBG
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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…

Overview

Crypto-asset regulation in Bahrain key to capital market growth plans
OBG
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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…

Overview

Investment in Bahrain's oil and gas fields drives economic growth
OBG
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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…