Bahrain’s hotel and restaurant sector has witnessed a growth rate of 3% according to the latest Bahrain Economic Quarterly (BEQ) report by the Bahrain Economic Development Board (EDB). Now there are plans to establish 15 new five and four-star hotels and beachfront resorts over the next 5 years and valued in total more than $10 billion.
World-renowned hotel brands include: The One&Only, Wyndham Grand, Fairmont, Vida, The Address, and Pullman.
Bahrain currently has 18 five star hotels, 48 four-star hotels, 35 three star hotels, 81 serviced apartments and 11 resorts offering a capacity of 16,500 rooms.
In order to continue to attract new visitors and support demand, Bahrain unveiled its brand-new tourism identity: ‘Ours. Yours. Bahrain’ as part of Bahrain Tourism and Exhibitions Authority’s (BTEA) commitment towards reinvigorating the Kingdom’s tourism industry. The campaign’s strategic and infrastructural initiatives aim to increase this amount to US$1 billion by 2020, effectively doubling tourism’s contribution to Bahrain’s GDP from 3.6% to 6.6%.
BTEA also established six international offices to help drive development and raise awareness of Bahrain’s tourism in key global markets such as: UK, France, India, Germany and Russia.
In 2015, Bahrain’s tourism sector accounted for 6% of the total GDP and contributed revenues of $1.9 billion to the Kingdom’s economy. The Kingdom’s tourism market is expected to grow at a CAGR of 4.8%, reaching $1 billion by 2020. In 2014, Bahrain’s tourism sector was the highest direct contributor to GDP of any economy in the Gulf.
The Kingdom has a strong pipeline of infrastructure projects worth over $32 billion, some directly supporting the tourism sector. They include a second causeway linking Bahrain and Saudi Arabia which will connect the two countries by road and by the proposed GCC rail network, in addition to the $1.1 billion Bahrain International Airport modernization program, which on completion will increase the airport’s capacity by 65% to receive up to 14 million passengers per year. (Source credit – Saudi Gazette)