Bahrain: Economic Snapshot 2023
Click here to read our Bahrain Economic Report and Investment Analysis 2023 online …
Bahrain Economy Sector Research Highlights
Bahrain Economy Sector Research Highlights
Highlights from The Report: Bahrain 2023
Fiscal sustainability measures are bearing fruit, with the kingdom posting its largest current account surplus in decades in 2022, at 15.4% of GDP, resulting from a 52% increase in government revenue. The country’s aim to become an international logistics centre is being supported by a number of major infrastructure projects, including a new causeway linking Bahrain and Saudi Arabia. Additional
Gulf countries look to space to harness scientific and commercial opportunitiesOBGplus
– Space sector could galvanise diversification in technology, defence and tourism – Newly established Saudi Space Agency is projected to accelerate investment – The UAE is expanding its capabilities in exploration and satellite imaging – Global partnerships with Chinese and Western firms prioritise localisation In the push to embrace emerging technologies and harness their…
The Report: Bahrain 2023OBGplus
Policy interventions and an investor-friendly regulatory environment continue to attract investors to Bahrain as both a place to establish a business, and as a gateway through which to enter the markets of the broader GCC and MENA regions. A more strategic and sustainable funding model has been adopted by the government, and this shift in approach is beginning to be reflected in the fiscal balance
Oil revenue surpluses drive GCC integration and diversificationOBGplus
While 2022 was a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnesseda second consecutive year of economic growth, with countries in the region investing in new technologies and projects that could herald greater integration in the years ahead. In April 2023 the IMF’s “World Economic Outlook” projected that…
Remittance start-ups expand in emerging markets around the worldOBGplus
Financial technology (fintech) firms are gaining market share that was formerly the preserve of established remittance service providers. Remittances have grown in importance in recent years and today constitute the largest source of foreign income for many developing economies. They also tend to be countercyclical, increasing during economic downturns or natural disasters when other capital flows…
How new regulations are boosting Bahrain's workforce participationOBGplus
The launch of the National Labour Market Plan 2021-23 represents the government’s decades-long effort to improve employment opportunities and conditions for workers in Bahrain. A plan detailing required policy amendments and the schedule of launch dates for strategic initiatives was inaugurated in 2004 to establish synergies between labour market and education development programmes. Both the Labour…
Bahrain promotes women's empowerment and green energy transitionOBGplus
Bahrain has made the UN Sustainable Development Goals (SDGs), adopted in 2015, a central component of its socio-economic planning. The SDGs represent 17 global objectives that call for action to eradicate poverty, preserve the planet, and promote peace and prosperity by 2030. The kingdom has made significant strides towards achieving these goals domestically, with the government taking steps to align…
UK-GCC trade talks to boost renewable energy and food securityOBGplus
In June 2022 the UK and the GCC officially launched negotiations for a comprehensive trade deal to reduce or remove tariffs on a series of goods and services. Anne-Marie Trevelyan, former UK secretary of trade, met with Nayef Falah Al Hajraf, the GCC secretary-general, and representatives from the six GCC countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Energising Renewables With…
Bahrain's development plans facilitate economic diversificationOBGplus
Bahrain’s economy rebounded from the impact of the Covid-19 pandemic and more recently successfully avoided the worst of global inflationary pressure, largely due to the fact that its currency, the dinar, is pegged to the US dollar. Bahrain’s recovery was also aided by forward-thinking policy formulation. While the country faced economic headwinds following the global drop in oil prices in 2014,…
