Country Profile
From The Report: Bahrain 2024
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Bahrain’s strategic location, business-friendly environment and proactive reforms have made it an attractive destination for international investors. The kingdom has a diverse economy, with a strong focus on financial services, industry and financial technology. Although hydrocarbons remain central to the economy, Bahrain has expanded its industrial and technology sectors. The country’s growing population, high literacy rates and investment in education and healthcare enhance its human capital. Bahrain’s economy is projected to expand by 3% in 2024, and its development plans focus on infrastructure, digital transformation and economic diversification. Projects to expand transport infrastructure are expected to improve mobility across the kingdom, as the government aims to attract 14.1m annual tourists by 2026.

This chapter includes an interview with Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister.

Articles from this Chapter

Overview

Robust foundation: Tourism expansion supports economic diversification, while strategic infrastructure development boosts connectivity
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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 the impact of the Covid-19 pandemic, Bahrain looks poised to benefit from strategic investment and…

Interview

Future-oriented: Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister, on embracing sustainable development for long-term growth
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Interview:Shaikh Khalid bin Abdulla Al Khalifa By what means has Bahrain’s pursuit of economic diversification under the Bahrain Vision 2030 roadmap contributed to decreasing oil dependency? SHAIKH KHALID BIN ABDULLA AL KHALIFA: Bahrain’s efforts toward economic diversification, which began well before the launch of Bahrain Vision 2030, have significantly reduced its reliance on oil revenue. By 2023 the non-oil sector contributed 83.9% to GDP, underscoring the success of this strategy.…

Analysis

Bilateral opportunity: Inaugural inter-regional summit signals closer collaboration between the GCC and South-east Asia in the years to come
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Trade between the GCC and the Association of SouthEast Asian Nations (ASEAN) has grown considerably in recent years as economies in both regions seek to capitalise on mutually beneficial opportunities, and diversify their trade and investment partners. Indeed, trade between the GCC and Asian countries classified as emerging and developing by the IMF increased 34.7% year-on-year to reach $516bn in 2022, up from $383bn in 2021, according to data from UK-based think tank Asia House. Trade between the…