Published on : Friday, December 29, 2017
Total number of tourists visiting the Kingdom increased by 12.8 per cent in the first nine months of 2017 and the sector saw rapid growth in the past year.
14 prominent projects are under the purview of the investment that will further boost growth in the kingdom’s tourism and leisure sector.
There will be further enhancement in the tourism infrastructure to support the growth, which has a significant role in Bahrain’s economic diversification efforts.
Simon Galpin, managing director of Bahrain Economic Development Board said that the total number of tourists visiting Bahrain has reached 8.7 million during the first nine months of 2017 while the resident population remains 1.5 million.
Tourism sector is a key investment sectors and has a strong competitive advantage for Bahrain with 6.3 per cent to the country’s GDP, it is set to grow significantly.
Bahrain reaffirms its position as a tourism destination of choice with increasing number of new hotels, retail and leisure developments currently underway said Galpin.
Valued at more than US$32 billion the tourism investment projects is a part of Bahrain’s large-scale infrastructure development across a wide range of sectors.
It was revealed that the public-private sector investment consists of US$10 billion of government funding, US$7.5 billion under the GCC Development Fund, and US $15 billion worth of investment in the private sector.
Bahrain International Airport is undergoing a US $1.1 billion modernisation programme that will increase the passenger’s capacity from nine to 14 million per year by 2020.
The infrastructure investment projects will include new five and four-star hotels and resorts, the development of a number of shopping malls such as Dilmunia Mall and the Marassi Galleria shopping complex.
The tourism strategy will be extended 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.