Business Opportunities In Bahrain￼
30 islands make up Bahrain, which has historically served as a crossroads for important trade routes thanks to its advantageous location in the Arabian Gulf. With Qatar to its north and the Kingdom of Saudi Arabia to its east, the nation is in a prime location at the intersection of major trade routes. The nation has put a lot of effort into managing the dynamic business environment and opening up its economy over the past ten years.
Which regions in Bahrain will be best for business in 2020?
Setting up a business in Bahrain is a smart move, and in 2020, you can choose from the most lucrative business opportunities or ideas in Bahrain.
1. Banking and Finance
Bahrain’s banking industry had tremendous growth in 2019, and this trend will undoubtedly continue in 2020. Bahrain’s advanced banking industry contributes 17.2% of the GDP of the nation. This industry’s banks, both conventional and Islamic, provide a range of financial services, including retail and wholesale banking, some specialised banking, finance and insurance firms, investment advisors, insurance brokers, money changers, securities brokers, and mutual funds. Particularly since the introduction of Islamic Banking, Bahrain has transformed into a regional centre for banking.
2. Construction Company
Bahrain’s construction industry is more robust than ever because of increasing infrastructure investment and capital inflows for industrial expansion. Incorporating a construction firm in Bahrain is one of the greatest business concepts for 2020. 7.5% of this nation’s GDP comprises the construction industry.
Since everyone’s ultimate source of enjoyment is food, opening a restaurant in Bahrain is a brilliant and lucrative business venture. The finest site for this investment is Block 338 in Bahrain’s Adliya neighbourhood, which is widely known as the country’s centre for fine dining. The food industry has expanded greatly and now offers new cuisines and flavours as a result of the numerous different nationalities that reside and work in the Kingdom.
The demand for both residential real estate and office space is rising as the population grows. Investors can’t go wrong in the real estate sector, as a rule. Bahrain’s real estate market is fairly stable and might provide enticing potential for significant returns. Following the growth of tourism, this industry has flourished in Bahrain. This industry is very likely to draw significant investment even in 2020.
5. Tourism and Hospitality
Bahrain had an increase in demand in the hospitality and tourism sectors in 2019. The government has implemented numerous regulatory initiatives and made attempts to support the hospitality and tourism sectors as a result of the numerous planned mega-events that have increased tourist traffic. The Kingdom receives a massive influx of visitors during Islamic holidays, especially from nearby countries like Saudi Arabia and Qatar. This industry is expected to be valued USD 1 billion in 2020; as a result, if you are considering Bahrain company registration, you should engage in this industry as soon as you can.
In Bahrain, a number of business prospects are connected. For instance, the retail sector has been experiencing growth for a number of years and is still expanding quickly thanks to a number of contributing factors. With Bahrain’s tourism industry expanding quickly, there is definitely room for more retail establishments given the country’s low cost of living and capacity to house visitors. As a result, the retail industry has experienced phenomenal growth and has evolved into a very lucrative market for starting a new company.
7. Planning for Events
The market for event planning services is continually increasing. Establishing an event planning business in Bahrain is a smart business move, whether you’re hosting a simple birthday celebration, a professional event, or a real estate expo. In every industry, Bahrain is home to numerous multinational corporations, all of which hold seminars, exhibits, conferences, and even social gatherings that call for careful planning and knowledge. In light of this, starting an event planning company is a wise decision if you’re considering foreign company registration in Bahrain.
8.Financial Advisory Services
One of Bahrain’s most vibrant industries is this one. Starting a financial consultancy firm or business in Bahrain today is unquestionably a lucrative business idea if you have experience in this industry, whether you intend to offer your own financial consultancy services or establish a small bank.
9. An online marketing firm
These days, a lot of businesses require digital marketing and advertising. After completing a professional course in digital marketing, you can start your own digital marketing company by hiring a designer, a content writer, a sales executive, and a web developer. For someone who already has relevant experience working in b2b businesses, this field offers a fantastic opportunity.
10. Healthcare and Hospital Services
If you have medical training, you might open your own hospital in Bahrain. The Kingdom has always welcomed medical professionals from around the world, especially from African countries like Nigeria and other such countries. Although opening a hospital requires significant upfront investment, it can be a very profitable venture to launch in Bahrain.