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Home / NEWS / Bahrain tourism infra investment reaches more than $13bn

Bahrain tourism infra investment reaches more than $13bn

by Jumana Abdel-Razzaq on Dec 28, 2017


Manama, Bahrain.
Manama, Bahrain.

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Investment in Bahrain’s tourism infrastructure has reached more than $13bn, according to the Bahrain Economic Development Board (EDB).

The figure covers 14 prominent tourism investment projects that are part of Bahrain’s large-scale infrastructure development across a wide range of sectors valued at over $32bn.

The sector has witnessed rapid growth in the past year, with the total number of tourists visiting the kingdom increasing by 12.8% in the first nine months of 2017.

This public-private sector investment consists of $10bn of government funding, $7.5bn under the GCC Development Fund, and $15bn worth of investment in the private sector.

Dr. Simon Galpin, managing director of Bahrain EDB, said: “The total number of tourists visiting Bahrain has reached 8.7 million during the first nine months of this year, a significant number considering our resident population of only 1.5 million people.”

“The tourism sector is one of the key investment sectors we recognise as having a strong competitive advantage for Bahrain. It contributes 6.3% to the country’s GDP, and is set to grow significantly, as the number of visitors and leisure activities increase.”

As part of these developments, Bahrain International Airport is undergoing a $1.1bn modernisation programme, set to increase passenger capacity from nine to 14 million per year by 2020.

This will go hand in hand with the new five and four-star hotels and resorts in the tourism development pipeline that will cater to current and future demand.

Other infrastructure investment projects include the development of a number of shopping malls such as Dilmunia Mall and the Marassi Galleria shopping complex, to join the recently-opened $159m Avenues Mall at Bahrain Bay.

Furthermore, Bahrain’s tourism strategy also extends to medical-tourism projects through King Abdullah Medical City, and mixed-use real estate projects such as Bahrain Bay, Bahrain Marina, Diyar Al Muharraq, Water Garden City, Dilmunia, and Marassi Al Bahrain where Emaar Hospitality brands such as The Address Hotel and Vida are under construction.

 

 



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