Bahrain is a Middle Eastern Arab state in the Persian Gulf.
It consists of Bahrain Island and some 30 smaller islands.
Bahrain’s mainstays are oil and gas and aluminum smelting. It also has a thriving tourism sector.
Bahrain has had an oil-based economy since 1937. Oil and gas bring in the most money for the country.
Smelting is also a large industry in Bahrain. The country is one of the biggest smelters anywhere. It exports half of the products to Europe, Australia, and the USA. It also exports to the Middle and the Far East and Asia.
Iron palletization in Bahrain is another large industry. The country produces high-quality direct reduction iron oxide pellets. Bahrain Steel is the leading producer of these pellets, making millions of tons each year in its two plants. It is sought after by Saudi Arabia, Oman, Qatar, India, and Southeast Asia.
Bahrain also has a service sector made up mainly of banking and finance. The banking sector plays a massive part in the country’s growth.
Tourism is also a growing industry. Bahrain attracts millions of tourists each year. It plans to take measures to increase this number in the coming years.
Manama is the capital of Bahrain. It is the largest city and a major trading center in the Persian Gulf. Manama is also one of the most diverse cities in Bahrain. It is also the perfect tourist spot.
Riffa is the second-largest city in Bahrain, divided into East and West Riffa. East Riffa has many attractions, such as shopping malls, shopping streets, and Riffa Fort. West Riffa, on the other hand, is the place where government officials and most royal family members live. The main tourist spot in West Riffa is the famous clock tower in the center of the area.
Muharraq is the previous capital and third-largest city in Bahrain. It is the country’s religious center. It is also home to the country’s best football club, the Muharraq Club. This city is famous for its traditional food, music, arts, and soul. There are also man-made Amwaj Islands with beaches, hotels, and other buildings.
Ecommerce is a growing trend in the world, and Bahrain is hopping on the train. This trend has seen much recent growth. At present, the Bahraini government is helping businesses transition from brick-and-mortar locations to online markets.
Social media usage is also a growing trend in Bahrain. The amount of social media users has seen a marked increase.
Benefits and Strengths of the Market
Bahrain has access to Saudi Arabia and is the natural gateway to the Gulf. This country is also the region’s largest market and economy. Bahrain has a very developed banking and finance sector.
Bahrain is a modern country that can withstand any crisis. For example, the oil crisis had little effect on the market. Experts have hailed the finance sector as the most advanced in the Gulf.
Bahrainis tend to be old-fashioned. Most of the people have jobs, and the country has a low cost of living. The people are open to new products and foreign companies. They also show brand loyalty to the ones that represent themselves the most. It’s easy to enter the retail market, so gaining customers would not be too difficult.
Reasons to Grow your Business in the Market
Bahrain is a trading hub. It has a prosperous economy with a high growth rate, and it has an open economy. The country uses many free trade agreements to encourage investors. Bahrain also provides investors with many market opportunities due to its suitable location.
Then there’s its Free Trade Agreement with the United States. Bahrain is only one of two Gulf Cooperation Council (GCC) members countries to have that privilege. This membership reduces the trade barriers between the two countries. It also gets much financial support from the other member countries. In addition, Bahrain has a large educated and skilled English-speaking populace.
About Market Research in Bahrain
To look at the state of Bahrain, it’s essential to carry out Qualitative, Quantitative, and Strategy research. Our Market Research also involves Focus Groups, Interviews, and Surveys.