Bahrain's Ministry of Finance and National Economy expected the GDP growth of 2.7 percent this year, driven by growth in the non-oil sector which is expected to grow by 3.1 percent this year.
According to government expectations, the number of visitors to Bahrain will rise from 7 million to 15 million by 2022, while 2020 is expected to witness a gradual increase in oil prices, due to an extended period of weak investment in the sector, as well as expectations of the end of the American-Chinese trade conflict. In the case of high oil prices, this will reflect positively on all sectors of the Bahraini economy, because it will increase consumer government spending in general, noting that the recovery of other Gulf economies will be positively reflected on the Bahraini economy through the financial sector and the tourism sector.
In addition, it is expected that the tourism sector will continue to improve due to the effectiveness of the strategic tourism plan in the Kingdom of Bahrain, as it has begun to attract tourists from all over the world, and reduce the previous dependence on Gulf tourists.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
