While Bahrain has witnessed strong growth in recent years, there are concerns that sluggish oil prices and rising debt levels will limit growth into 2015. However the finance and banking sector, which represents the kingdom’s second-largest economic contributor, is expected to continue expanding, with the country having emerged in recent years as a financial services hub, especially in regards...
The Middle East
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Chapter | Country Profile from The Report: Bahrain 2015
The kingdom of Bahrain hosts a diverse and multicultural population, which in 2011 totalled around 1.2m people, of which 585,000 were Bahraini and 610,000 expatriates. Finance and energy remain key drivers of GDP growth in Bahrain. Energy still accounts for the majority of government revenues, but is shrinking as a proportion of GDP as Bahrain pushes ahead with economic diversification plans...
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.
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