Bahrain’s expanding ICT sector highlights the country’s commitment to economic diversification and innovation, positioning it as a globally competitive economy. With a young, tech-savvy population and government investment in digital infrastructure and talent development, the kingdom has become a destination for technology start-ups, attracting numerous international ICT companies. The country…
Industry, including large aluminium plants and numerous smaller enterprises, represented 14% of the economy in 2023 with aims to increase its contribution to 14.5% by 2026. The kingdom has long prioritised manufacturing and industrial activities, supported by a sophisticated financial and governmental network. Bahrain is embracing the Fourth Industrial Revolution, expanding smart factory infrastructure…
Bahrain’s construction and real estate sectors are key to the kingdom’s economic diversification. After overcoming challenges including the Covid-19 pandemic, supply chain issues and cost volatility, these industries are rebounding strongly. While inflation and high interest rates have impacted demand, the outlook remains positive with a robust pipeline of projects under way. The real estate sector…
Bahrain’s transport sector is a key driver of the kingdom’s economy, supporting trade, logistics and tourism. The sector saw significant growth in 2023, fuelled by strong government support and increasing private sector involvement, underpinned by a $30bn plan to expand air, maritime, rail, road and urban connectivity. The transport industry accounted for 7.4% of GDP in 2023, up 3.1% from 2022.…
Known for its long history in hospitality, Bahrain is expanding its tourism offerings, which include cultural, heritage, adventure and coastal attractions. Manama’s selection as the Gulf Tourism Capital for 2024 highlights the country’s rising prominence in the regional tourism landscape. With new hotels, improved transport connectivity and government commitment to developing the sector, the kingdom…
Bahrain, the first Gulf country to discover oil, is navigating the energy transition by focusing on renewables, energy efficiency and sustainability. Legislation introduced in 2023 rebranded the parent company of Bahrain’s oil and gas companies as Bapco Energies, highlighting the kingdom’s readiness to embrace opportunities in the energy transition and achieve sustainable targets. The kingdom…
Bahrain’s capital markets are aiming to increase activity, with the GCC region experiencing a surge in initial public offerings. Both corporate and government entities are turning to debt and securities, particularly sovereign bonds, which attract investors seeking to reduce portfolio risk amid global economic uncertainty. The kingdom’s diversified economy, bolstered by a robust financial services…
Bahrain’s insurance sector saw both conventional and Islamic underwriters reporting strong premium and earnings in 2023. The outlook for 2024 and beyond is even more promising, with projected economic growth of 3%, driven by the non-oil sector. This development is expected to increase demand for commercial, property and other insurance products. Additionally, the rollout of a mandatory health insurance…
Bahrain has established itself as a global financial services destination, with the financial sector being the largest contributor to the economy, accounting for 17.8% of GDP in 2023. The kingdom’s financial technology infrastructure is expanding banking access to underserved demographics, and its financial services authorities are adopting policies to keep Bahrain influential in global banking…
Bahrain has made significant gains in its efforts to diversify away from hydrocarbons. The kingdom’s goals include a 30% reduction in carbon emissions by 2035 and carbon neutrality by 2060. Recent years have seen progress in renewable energy, sustainable urban development, ESG financing and water conservation. The country’s efforts are guided by Bahrain Economic Vision 2030, the country’s long-term…
