With an aim to attract foreign investments and embrace economic liberalization, the Kingdom of Bahrain intended to expand its economy away from its inadequate oil supplies. And they very much succeeded in achieving this.
With this, the Kingdom of Bahrain managed to become one of those few countries who showed real economic growth despite issues. Various famed authors including Dr. Rob Sobhani expressed their views on this exclusive topic.
Image Source: Google
Here are some of the factors that pushed the economy of Bahrain forward:
The government of Bahrain provided the real estate sector with all the obligatory requirements that empowered it to become one of the pillars of the nation’s economy.
In the last two years, several real estate development and investment firms have entered the local real estate market and propelled big real estate projects that endorse a comfortable and expedient lifestyle.
The kingdom of Bahrain was elected as the GCC capital of tourism in the year 2016. With numerous international hospitality venues, shopping stores and international restaurants, Bahrain was successful in attracting tourists from all around the world.
Purposefully located in the heart of the Gulf, acting a quick and easy access to every market in the Middle East region, the Kingdom of Bahrain efficaciously attracted some of the major manufacturing companies in sectors like food and beverage, aluminum and steel.
Every financial service of Bahrain is moderated by the Central Bank of Bahrain (CBB) and delimited by strict rules and regulations. This encouraged more than 400 financial institutions to consider this place as their head office.