Tourism’s total contribution to Bahrain’s GDP reached $3.26bn, or 10.2% in 2013, with this is expected to increase by 7.6% in 2014 and then by 5% each year until 2024. Continued investment in infrastructure will help drive future growth in the sector, with the $980m expansion of Bahrain International Airport due to increase capacity to 13.5m passengers per year. Meanwhile, plans to expand the...
The Middle East Tourism
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As the region faces up to the challenge of the recent drop in oil prices, Bahrain’s fundamentals indicate the kingdom is well positioned to weather the dip. The focus on diversification goals outlined in Economic Vision 2030 is helping establish a more competitive and sustainable economy in the kingdom. The financial sector, which represents Bahrain’s second-largest GDP contributor, has continued to recover robustly since the global economic downturn.
Arrivals at Muscat International Airport grew from 7.56m in 2012 to reach 8.31m in 2013, and this rising trend looks set to continue as the sultanate rolls out infrastructure development plans and increases its offerings for visitors. Across the country smaller airports are undergoing expansion that will allow larger planes to land, while rail development in the sultanate will see 2244 km of...
Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
Tourism accounts for 14% of Jordan’s GDP, with receipts in 2014 up 10% year-on-year. Efforts are under way to diversify Jordan’s tourism offerings with an emphasis being placed on religious tourism, aimed particularly at visitors from East Asia, while Jordan’s medical infrastructure remains one of the country’s most valuable tourism assets with the World Bank ranking Jordan the top medical...
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.