Investment in tourism infrastructure of Bahrain has now reached over US $13 billion, the country’s Economic Development Board [EDB] has revealed.
The investment is spread between 14 prominent projects in Bahrain.
The total number of tourists visiting the country increased by 12.8% in the first nine months of 2017.
Dr Simon Galpin, Managing Director of the EDB, said: “The total number of tourists visiting Bahrain has reached 8.7 million during the first nine months of this year, a significant number considering our resident population of only 1.5 million people.
“The tourism sector is one of the key investment sectors we recognise as having a strong competitive advantage. It contributes 6.3% to the country’s GDP, and is set to grow significantly, as the number of visitors and leisure activities increase. Bahrain continues to reaffirm its position as a tourism destination of choice with a number of new hotels, retail and leisure developments currently underway.”
The tourism projects form part of a large-scale infrastructure development project, valued at $32 billion. The investment is made up 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.
Projects receiving investment under the programme include a number of shopping malls such as Dilmunia Mall and the Marassi Galleria shopping complex. They will join the newly-opened Avenues Mall at Bahrain Bay.
The strategy will also develop medical-tourism projects – notably King Abdullah Medical City.
Mixed-use real estate projects are also underway such as Bahrain Bay, Bahrain Marina, Diyar Al Muharraq, Water Garden City, Dilmunia, and Marassi Al Bahrain where Emaar Hospitality brands such as The Address Hotel and Vida are under construction.
The announcement follows news that Emaar Entertainment has signed a deal with Marassi Al Bahrain developer, Eagle Hills Diyar, to create the kingdom’s largest family entertainment centre.
The Economic Development Board is an investment promotion agency responsible for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.