Economy Bahrain’s hospitality sector grows 18%, helping Q2 GDP up 6.9% By Pramod Kumar September 26, 2022, 5:20 AM Creative Commons The hotels and restaurants sector recorded the most robust growth of 18.1 percent, followed by the transport and communication sector at 15.1 percent Bahrain’s gross domestic product rose 6.9 percent year-on-year in the second quarter of 2022, posting the biggest annual increase since 2011, Bahrain News Agency reported, citing the Ministry of Finance and National Economy. The positive economic growth was driven by the strong performance of the non-oil sectors targeted by the Economic Recovery Plan. The hotels and restaurants sector recorded the most robust growth of 18.1 percent, followed by the transport and communication sector at 15.1 percent. The manufacturing sector grew by 7.6 percent as a result of an increase in total production from Bahrain Petroleum Company, Bahrain National Gas Company and Aluminum Bahrain. Major infrastructure projects financed by the GCC Development Fund have witnessed notable growth in Q2 2022 due to awarded contracts reaching $100 million. The total value of awarded projects reached $6.1 billion in 2022, an increase of 8.2 percent year-on-year. The awarded projects included Sheikh Mohammed bin Khalifa Specialist Cardiac Center, Janabiya Highway and Sports City. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
