The Kingdom is a destination for tourists in MENA
The Middle East has become synonymous with oil and petroleum for many. The likes of Saudi Arabia and Kuwait have built their entire economies on the back of wealth from oil.
However, oil is not the only source of income for these countries. This is especially true when we look at other countries in the region like the UAE and Bahrain.
With active efforts to diversify their economies in place for many of them, countries in the Middle East and North Africa (MENA) region have shown a willingness to adapt and change their practices to form a stronger core for their respective economies.
Efforts like Bahrain’s vision for 2030 and Saudi Arabia’s late move of finally offering tourist visas will not go unnoticed. And one of the major industries that these countries from the GCC and MENA as a whole are trying to focus on, is tourism.
The Middle East has become one of the most popular regions for tourism in the world. Tourism in the Middle East and North Africa (MENA) region represented nearly 6% of global tourist arrivals in 2018.
That amounts to nearly 60 million arrivals, a significant number and a welcome boost to the economies of countries in the region. All this tourism brought in receipts worth $73 Billion, of which the highest share belonged to the Emirate of Dubai in the UAE, with nearly $21 Billion.
There is obviously a large tourism industry here. And it is one with an even larger potential for growth.
As vaccination efforts begin to produce results, tourism is bound to pick up again. It is expected to recover soon, especially in the UAE, which has its Expo coming up in late 2021. It is expected that a rebound in the industry could even improve the industry.
And with this expected boom, comes opportunity. Opportunity that Bahrain will be well equipped to capitalise on.
Bahrain’s potential for tourism in the country
Located in the middle of the Arabian Gulf, the island nation presents a unique destination that blends together culture, geography, infrastructure and entertainment in a way few other countries could hope to match.
There are many factors that contribute to the country’s potential as a tourism destination in MENA, among which the location-based advantages do play a strong part.
Location
Located in the Arabian Gulf between the coastlines of KSA and Qatar, Bahrain is strategically placed to attract travellers from all of the GCC countries. It is even linked via road to KSA through the King Fahad Causeway.
This also means residents of these other large countries like the UAE will look toward Bahrain as an affordable destination without leaving the comfort that is found in familiarity. The country does have much in common with its neighbours in terms of culture and geography. But with the added benefit of being more affordable, as well as other unique features, Bahrain will be of high interest to travellers from the region.
And it is not just tourists from within the region that Bahrain appeals to either. Travellers from other parts of the world who find the luxuries of Dubai to be needlessly expensive, but still want to experience a gulf Arab country can look toward Bahrain.
Restaurant prices in Manama are nearly 40% lower than that of Dubai. Rent prices are a massive 69.5% higher in Dubai compared to Manama.
This all sets the theme of a country and city that is like Dubai, but far more affordable to the average tourist. Dubai is still unbeaten as a luxury destination for the millionaires among us, but for everyone else, Bahrain is the obvious superior option.
Culture and History
Being a small island nation with a small population, Bahrain has managed to preserve much of its warm and welcoming culture. The country and its people are beloved not just by tourists, but also by expatriates who reside there. There are places that preserve this culture, like the historic Manama Souq, Bab al Bahrain and Bahrain National Museum, among others.
Those who are attracted to the culture of the Arab World can come to a country that has thousands of years of history and culture.
Bahrain is also the first country in the Arabian Gulf to produce oil and has the first oil well in the region. There is even an Oil Museum that showcases exhibits like drilling equipment and a working model of an oil rig.
Beaches
It is an island nation, in the Arabian Gulf, surrounded by small beautiful islands and archipelagos with opportunities for pearling and seeing corals. Do we need to say more?
Active efforts to improve
Bahrain has been working towards a more diversified economy, with plans like its vision for 2030.
It is expected that tourism will be one of the prominent industries in the new, stronger economy that Bahrain is trying to build. Measures like the establishment of the Bahrain Tourism and Exhibitions Authority (BTEA) in 2015 show clear intentions from the country to improve itself as a tourism destination.
The country also recently opened up a new, larger terminal for its international airport, which increases the capacity by over 40% to 14 million passengers per year.
The country is also investing in infrastructure, with plans to construct a metro rail network around the country’s city centres. They are also constructing new attractions, like the world’s largest underwater theme park, Dive Bahrain, which was opened in 2019.
The country has a plan in place and is acting upon the plan to improve its chances to attract tourists from the region and beyond.
Why companies in Bahrain should care about Bahrain’s tourism prospects
Whether you are already operating in Bahrain or not, you should pay attention to the increasing prospects of the country towards establishing itself as a destination for tourism in the GCC.
Businesses that are already operating in Bahrain can look to serve the tourists or cater to those that do. And investors from around the world can look to capitalise on a country that is bound to gain significant growth in its tourism industry within the next few years.
There is significant support from the country’s government to all efforts to improve tourism in the country. And you can make use of this support by investing in ventures in Bahrain that look to serve the growing number of tourists that arrive in the country every year.
It is also a massive destination for shopping, with a diverse set of options for shopping ranging from the Manama Souq to the modern Avenues Mall.
This also means there is opportunity in retail, as well as other industries that serve retail, like logistics companies that enable international trade.
With the country’s expected growth, comes a massive range of opportunities. It is up to you, the business owner, professional or investor, to take action.
What should your business in Bahrain do next?
There are many ways of setting up and operating in Bahrain. Whichever path you choose, you cannot go wrong with having a local partner who knows the market and its demands, to serve your needs
Al Wasel has been making things happen for businesses in and around Bahrain for over 3 decades. And our wide portfolio of partners clearly shows our consistent success in doing so.
We have enabled projects worth over $100 million over the past few years and worked with companies having as many as 50,000 employees.
Send us a message now, and take your first step toward business excellence in Bahrain.