fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Lifestyle Tourism

USD 492 million investments in 🇧🇭 Bahrain tourism sector allows pandemic recovery

According to the fDi Intelligence Tourism Investment Report of 2021, Bahrain has secured the highest amount of funds in the MENA region

Sakshi K S by Sakshi K S
September 13, 2021
in Tourism, Funds, The Global Economics, Top Stories, Wealth & Asset Management
Reading Time: 2 mins read
0
USD 492 million investments in Bahrain tourism sector allows pandemic recovery

USD 492 million investments in Bahrain tourism sector allows pandemic recovery

1.6k
SHARES
8.8k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Bahrain’s tourism sector has received ample boost from UAE-based property developers in the form of major investments. The investments from the UAE developers have enabled the Middle East country’s tourism sector to recuperate from the aftermaths of the COVID19 pandemic.

The Recuperation of Bahrain’s Tourism Sector

In 2020, the Kingdom of Bahrain acquired USD 492 million capital as an investment in the tourism sector. According to the fDi Intelligence Tourism Investment Report of 2021, Bahrain has secured the highest amount of funds in the Middle East and Africa (MENA) region owing to the investments from real estate biggie Eagle Hills and Emaar Properties (Dubai-based).

In 2020, capital investment in MENA’s tourism sector dropped to USD 1.6 billion (an 82% decrease from 2019). The region also witnessed a reduction in the number of tourism jobs created, which fell from around 17,400 jobs in 2019 to 2,800 jobs in 2020.

However, even amid the ongoing pandemic, the Kingdom of Bahrain was graded first in the number of jobs created in MENA’s tourism sector in 2020. Bahrain also ranked second for the number of fDi tourism projects. (According to the fDi report)

Bahrain’s Economic Development Board’s Chief Investment Officer, Mahmood Al Aradi, stated that notwithstanding the pandemic’s evident challenges, the country has constantly strived for progressive real estate plans and tourism infrastructure. This has allowed Bahrain to receive the attention of the Arab League’s biggest property development entities, like Emaar, and the world’s most celebrated hotel brands.

Before the COVID19 pandemic, on average, the Arab country was visited by approximately 1 million tourists every month. The tourism sector subsidized around 7% of the GDP of Bahrain.

During the pandemic, the nation constantly strived to develop its strategies associated with the transformation of its tourism sector. More than USD 10 billion was allocated to tourism infrastructure projects. This included the USD1.1 billion up-gradation of its international airport. In recent times, Edamah, the real estate wing of Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, has also declared numerous property projects in the Gulf country.

The Hilton DoubleTree, the Accor hospitality group (portfolio of over 400 hotels), and Minor Hotels (with a portfolio of 527 hotels and resorts), have revealed plans to release new properties in the Gulf country.

The country also boasts the residence of renowned hotel brands like Four Seasons, Rotana, InterContinental Hotels Group, Ritz-Carlton, and Wyndham Hotels & Resorts, and Sofitel Hotels & Resorts.

Al Aradi also stated that as the pandemic restrictions are lifted, the country will acquire the goals of greater opportunities in regional cooperation. The country is seeking more foreign hospitality entities to capitalize on its geography to expand its already booming tourism sector.

Via: Short URL
Tags: CovidrecoveryEagle HillsEmaar PropertiesfundsKingdom of Bahraintourism sector
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

Related Posts

HSBC To Shift Focus From West To Asia Pacific
Commercial

HSBC To Shift Focus From West To Asia Pacific

by The Global Economics
May 26, 2023
Repercussions of the United States Defaulting on its debt
Economy

Repercussions of the United States Defaulting on its debt

by The Global Economics
May 25, 2023
Singapore’s OCBC Bank and ADDX launch tokenised structure notes through a strategic partnership
Top Stories

Singapore’s OCBC Bank and ADDX launch tokenised structure notes through a strategic partnership

by Riya Thomas
May 25, 2023
Pan Asia and VinES Sign a Deal to Research on Lithium Conversion Facility
Energy

Pan Asia and VinES Sign a Deal to Research on Lithium Conversion Facility

by The Global Economics
May 25, 2023
Is the Micron Chip Ban an Indication of Intensifying Sino-US Trade Conflict?
Technology

Is the Micron Chip Ban an Indication of Intensifying Sino-US Trade Conflict?

by Riya Thomas
May 24, 2023
Previous slide
Next slide
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Qred Emerges as Europe's Newest Bank

Qred Emerges as Europe’s Newest Bank

May 29, 2023
Shein Intends to Build a Mexico Factory

Shein Intends to Build a Mexico Factory

May 29, 2023
HSBC To Shift Focus From West To Asia Pacific

HSBC To Shift Focus From West To Asia Pacific

May 26, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version