Bahrain Tourism Projects Valued at over $13 Billion

The main entrance of The Avenue Bahrain in Manama. Hamad I Mohammed/Reuters
The main entrance of The Avenue Bahrain in Manama. Hamad I Mohammed/Reuters
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Bahrain Tourism Projects Valued at over $13 Billion

The main entrance of The Avenue Bahrain in Manama. Hamad I Mohammed/Reuters
The main entrance of The Avenue Bahrain in Manama. Hamad I Mohammed/Reuters

The Bahrain Economic Development Board (EDB) recently revealed that investments in Bahrain’s tourism infrastructure have reached over $13 billion.

The figure covers 14 prominent projects that will further boost growth in the Kingdom’s tourism and leisure sector.

As part of these developments, Bahrain International Airport is undergoing a $1.1 billion worth expansion to increase passenger capacity to a yearly 14 million by 2020. This will go hand in hand with the new hotels, resorts, real-estate projects, malls, restaurants and other projects that will be implemented in the kingdom.

Dr. Simon Galpin, Managing Director of EDB, said: "The tourism sector contributes 6.3 percent to the country’s GDP, and is set to grow significantly, as the number of visitors and leisure activities increase."

He added: “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 infrastructure projects are part of Bahrain’s large-scale infrastructure development across a wide range of sectors and are valued at over $32 billion. This public-private sector investment consists of $10 billion of government funding, $7.5 billion under the GCC Development Fund, and $15 billion worth of investments in the private sector.

The sector witnessed rapid growth in the past year, with the total number of tourists visiting the Kingdom increasing by 12.8 percent in the first nine months of 2017. Bahrain visitors spent during 2017 around $2.45 billion.



German Economy Minister Says EU Open for Talks on China Tariffs

German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
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German Economy Minister Says EU Open for Talks on China Tariffs

German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights

Germany's Economy Minister Robert Habeck said during his visit to China on Saturday that the European Union's door is open for discussions regarding EU tariffs on Chinese exports.

"What I suggested to my Chinese partners today is that the doors are open for discussions and I hope that this message was heard," he said in his first statement in Shanghai, after meetings with Chinese officials in Beijing, Reuters reported.

Habeck's visit is the first by a senior European official since Brussels proposed hefty duties on imports of Chinese-made electric vehicles (EVs) to combat what the EU considers excessive subsidies.

Habeck said there is time for a dialogue between the EU and China on tariff issues before the duties come into full effect in November and that he believes in open markets but that markets require a level playing field.

Proven subsidies that are intended to increase the export advantages of companies can't be accepted, the minister said.

Another point of tension between Beijing and Berlin is China's support for Russia in its war in Ukraine. Habeck noted Chinese trade with Russia increased more than 40% last year.

Habeck said he had told Chinese officials that this was taking a toll on their economic relationship. "Circumventions of the sanctions imposed on Russia are not acceptable," he said, adding that technical goods produced in Europe should not end up on the battlefield via other countries.