The Kingdom of Bahrain is looking to fast forward its tourism proposition this year as the government signs off on multi-billion dollar transportation infrastructure plans and Manama launches its 2013 Arab Capital of Tourism calendar of events.
The Kingdom’s proximity to Saudi Arabia and its international sporting and leisure attractions including the annual F1 Grand Prix, remain key factors in driving future tourism receipts.
According to Alpen Capital’s October 2012 GCC Hospitality Industry Report, Bahrain’s hospitality market is expected to grow at a compound annual growth rate (CAGR) of 18.8% between 2011 and 2016, with the relatively high growth attributed to opportunities for sector recovery following a challenging 2012, prompting forecasted tourism arrival CAGR of 2.9% through to 2022.
| Advertisement |
With around 75% of current hotel supply dominated by four and five-star hotels, the future pipeline remains primarily focused on upscale properties but chains such as Rotana and Marriott International are introducing new mid-level brands to the market. At the higher end of the spectrum, a 260-room Wyndham Grand Manama is expected to open in Bahrain Bay by the end of 2013, followed by the 50-storey JW Marriott in 2016.
The total contribution of travel and tourism to Bahrain’s GDP is forecast to rise by 4.5% from US $3.97 billion (16.5% of GDP) in 2011 to US $6.16 billion (17.4%) by 2021 according to the World travel and Tourism Council (WTTC).
Search our database of more than 2,700 industry companies
