Bahrain Vacation TripsBahrain Economy
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In a region experiencing an oil boom, Bahrain has the fastest growing economy in the Arab world, the United Nations Economic and Social Commission for Western Asia found in January 2006. Bahrain also has the freest economy in the Middle East according to the 2006 Index of Economic Freedom published by the Heritage Foundation/Wall Street Journal, and is twenty-fifth freest overall in the world. In 2008, Bahrain was named the world’s fastest growing financial center by the City of London’s Global Financial Centres Index. Bahrain's banking and financial services sector, particularly Islamic banking, have benefited from the regional boom. In Bahrain, petroleum production and processing account for about 60% of export receipts, 60% of government revenues, and 30% of GDP.
Economic conditions have fluctuated with the changing fortunes of oil since 1985, for example, during and following the Persian Gulf crisis of 1990-91. With its highly developed communication and transport facilities, Bahrain is home to multinational firms. A large share of exports consists of petroleum products made from imported crude oil. Construction proceeds on several major industrial projects. In 2004, Bahrain signed the US-Bahrain Free Trade Agreement, which will reduce certain barriers to trade between the two nations. Unemployment, especially among the young, and the depletion of both oil and underground water resources are major long-term economic problems. In 2008, the jobless figure was a 3.8%, but women are over represented at 85% of the total. Bahrain in 2007 became the first Arab country to institute unemployment benefits as part of a series of labour reforms instigated under Minister of Labour, Dr. Majeed Al Alawi.
Bahrain, Middle East - Bahrain Hotels - Bahrain Hotel & Suites - Bahrain Travel
Bahrain Travel Informations and Bahrain Travel Guides
Bahrain History: Pre-Islamic - Islamic conversion and Portuguese control - Origin of the Bani Utbah Tribe
1783: rising power of Bani Utbah - Al Khalifa ascendancy to Bahrain and their treaties with the British
Discovery of petroleum - Bahrain Politics - Bahrain Governorates - Bahrain Economy - Bahrain Geography
Bahrain Climate - Bahrain Demographics - Bahrain Culture: Language and Religion
Formula One & Other Motorsports Events - Bahrain Military - Bahrain Education - Bahrain Tourism
Bahrain Tourist Attractions: Al Fateh Mosque - Al Khamis Mosque - Arad Fort - Bab Al Bahrain - Bahrain Fort
Bahrain Grand Prix - Bahrain National Museum - Barbar Temple - Beit Al Qur'an - Dilmun Burial Mounds
Scuba Diving - First Oil Well - Horse riding - King Fahd Causeway - Riffa Fort - Tree of Life