Sector to contribute 5.1 per cent to states gross domestic product (GDP) by 2024
The travel and tourism sector of Bahrain is expected to contribute 5.1 per cent, or BD877m ($2.3bn), to its gross domestic product (GDP) by 2024.
This would correspond to some 8 per cent annual growth starting in 2015. The sector currently accounts for 4.1 per cent of the countrys GDP.
The sector is expected to directly employ 44,000 by 2024, up from 30,000 in 2013. It will then account for 4.1 per cent of the countrys total employment, corresponding to an annual growth of about 3.3 per cent over this period.
Key drivers for the sectors future growth include the estimated $30bn infrastructure and industrial sctor spending in the country over the next 10 years, according to Ahmed al-Nemah, acting undersecretary for Civil Aviation Affairs at the Bahrain Transportation and Telecommunications Ministry.
In addition, the state has been tapping the private sector in building infrastructure that is directly related to travel and tourism including new hotels.
The island state is also a key tourism destination particularly for Saudi Arabia. Over three-fourths of the states visitors are accounted for by Saudis who visit the state throughout the year for business and leisure.
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