Government
The Khalifa family has ruled since 1783; Bahrain is now a constitutional monarchy with an elected legislative assembly. HM Shaikh Hamad Bin Isa Al Khalifa is the Monarch and King of Bahrain. HH Shaikh Salman Bin Hamad Al Khalifa is the Crown Prince and HH Shaikh Khalifa Bin Salman Al Khalifa is the Prime Minister.
Location
Bahrain is located in the Middle East. It is the smallest in size (741.4 Sq.Km) but is one of the most advanced, educated and well structured Countries in the GCC. Bahrain is an archipelago of 36 islands located off the eastern coast of Saudi Arabia. Thereare five governorates: Capital, Central, Muharraq, North and South.
Population
The total population of Bahrain is approximately 1,234,571 (2010 census). Bahrain's people are by far the most educated and skilled in the Gulf. The population is diverse, composing approximately 50% expats from various parts of the world.Bahraini women are highly educated and well-represented in all major professions.
Tourism
The tourism sector in Bahrain contributed positively to the country's economic growth, with nearly 9 million Non-Bahraini visitor arrivals each year. GCCnationals constitute 61.4% of the total visitors to the Kingdom. South Asians constituted 16.6% of the total visitors. Nearly 16% of Non-GCC visitors came for leisure, with the other 84% for business and journalism.
Foreign Investment
The Kingdom has been ranked as one of the freest economies in the World and is a hub for the financial sector. Bahrain's economy has long been the freest in the Middle East and has steadily improved its ranking worldwide — today the Index of Economic Freedom places Bahrain ahead of G7 economies such as Germany, France and Japan, as well as the major developing markets like China and India.
Unlike other oil rich countries in the Middle East, Bahrain relies on the private sector as a major contributor to it's GDP. Building on natural geographic and human capital advantages, Bahrain has crafted a business environment that nurtures foreign companies' prosperity In Bahrain.
You can retain 100% foreign ownership and benefit from the region's lowest taxes. You can freely repatriate capital, profits and dividends. Bahrain has bilateral trade and economic agreements with more than 40 countries, including China, France, India, Singapore and the UK. And they have had an active Free Trade Agreement with the United States since 2004.
Bahrain In Brief
Unrivalled Access to the mena markets
Bahrain's strategic location at the heart of the Gulf is the most central place in the Middle East to position a business, giving them the fastest access to export markets for goods and services throughout the region. Bahrain is the closest country to Saudi Arabia, the Gulf's largest economy, and major markets including the United Arab Emirates and Qatar are all less than an hour's flight away. Access to every market in the Middle East is quick and efficient - by air, sea and road.
A Long and sucessful track record of helping businesses flourish
Bahrain has a regulatory regime that provides a free, open and transparent environment that fosters growth. Since the 1970s, Bahrain has been the Middle East's leading financial services centre and the Central Bank of Bahrain (CBS) is widely recognised as the region's pre-eminent single regulator. Businesses enjoy the protection of the Kingdom's legal and regulatory systems, with their established track record and global best-practice standards. Strict intellectual property and copyright laws are enforced which ensure the highest standards of protection.
Competitive Costs
Living in Bahrain is less expensive than elsewhere in the Gulf, with Manama judged a cheaper place to live than competing cities while maintaining an excellent standard of living. Wages are, therefore, competitive and typically less than elsewhere in the region. Other basic costs are also inexpensive. Rents for offices and industrial land are lower than elsewhere. Furthermore, electricity, gas and water costs are highly competitive. Finally, Bahrain has the lowest taxes in the GCC, with no corporation, income, value-added or withholding tax. There are also no capital gains or wealth taxes, and no inheritance taxes or death duties.
A great, Progressive place to live
Bahrain offers employees who are relocating to an enviable lifestyle. We have an open and relaxed attitude, with a reputation as the most liberal country in the Gulf - a multi-cultural, multi-ethnic and multi-denominational melting pot. For those with families, there are international schools and universities; excellent public and private hospitals; a wealth of sports and family entertainment facilities; and a safe and secure environment.
Vision 2030
Vision 2030 is a comprehensive economic vision for Bahrain providing a clear direction for the continued development of it's economy and at its heart is a shared goal of building a better life for every Bahraini. Vision 2030 identifies 3 key challenges and opportunities and describes how Bahrain will respond to each.The 3 challenges are:
- Transforming the Bahraini economy by focusing on developing quality & number of jobs for Bahrainis and improving their skills
- Competingin an increasingly global market place by encouraging innovation & developing new sectors in the economy
- Exploiting unprecedented growth opportunities as the GCC continues to develop
Guiding principles - Vision 2030 has three guiding principles which guide the national economic aspirations:
— Sustainability - Competitiveness - Fairness.
