Skip to content Skip to Search
Skip navigation

Bahrain’s hospitality sector grows 18%, helping Q2 GDP up 6.9%

Building, Bench, Furniture 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.

Latest articles

B8KRCP The Bank of England underground Gold Vaults in London Stacks of Gold Bars are taken into storage Gold bars are taken into storage at the Bank of England;central banks around the world are increasing reserves

UAE increases gold reserves with growth set to continue

The UAE’s gold reserves reached almost AED20 billion ($5.5 billion) at the end of March, rising 12.6 percent year on year, with expectations that the growth will continue into the rest of the year. The Central Bank of the UAE (CBUAE) said the Gulf state’s reserves of the precious metal have risen considerably over the […]

Construction workers in Manama. 'There is plenty of office space in Bahrain and the occupancy rates even in the better buildings are not that high,' says one real estate expert

Extra supply casts big shadow over Bahrain’s real estate sector

The completion of a raft of developments in Bahrain has dampened hopes for strong growth in its real estate sector this year.  A flurry of activity at the end of 2023 led some analysts to predict stronger growth this year, after a period of low-single-digit increases or dips in prices, rents and deals. In 2023, […]

Shell Aramco LNG

Shell beats Aramco in race to buy LNG business

Saudi Aramco, the world’s biggest oil exporter, has lost out to UK rival Shell in its bid to buy Pavilion Energy, a Singapore trader of liquefied natural gas (LNG), from Temasek, the Asian island nation’s sovereign investment fund. Both companies were shortlisted for a potential acquisition worth billions of dollars. No financial details of Shell’s […]

ADIA Hargreaves Lansdown

ADIA group raises offer for UK stock trading platform

A consortium including Abu Dhabi’s biggest sovereign wealth fund is poised to buy stock trading platform Hargreaves Lansdown after making an improved non-binding offer for the British company. Abu Dhabi Investment Authority’s (ADIA) wholly owned subsidiary Platinum Ivy has teamed up with private equity firms CVC and Nordic Capital to offer £11.40 ($14.51) per share […]