Bahrain’s golden visa initiative, launched as part of an economic recovery plan in October 2021, has garnered significant interest, with the country attracting $2.4 billion in investment across nine major projects.
The initiative, designed to stimulate economic growth and create employment opportunities, has boosted Bahrain’s foreign direct investment stock relative to GDP to 81 percent, surpassing the global average.
These projects are expected to generate around 3,000 job opportunities, with notable ventures including Bahrain Titanium by Interlink Metals & Chemicals of Switzerland and the Bahrain Marina urban waterfront development.
According to Noor bint Ali Alkhulaif, Chief Executive of the Bahrain Economic Development Board, Bahrain’s appeal as a destination for local and global companies stems from its unique value proposition.
Companies meeting specific criteria, such as investments in strategic projects expected to create over 500 jobs nationwide or investments exceeding $50 million, qualify for the golden license in Bahrain.
Last year, Bahrain awarded the first golden licenses to five companies, with a total investment exceeding $1.4 billion. These companies, including Citi, Eagle Hills Diyar, Infracorp, Saudi Telecommunication Company, and Whampoa Group, are projected to create more than 1,400 job opportunities by 2026.
From 2002 to 2022, Bahrain’s GDP experienced remarkable growth, rising from nearly $10 billion to $44 billion. This expansion reflects an average annual growth rate of 8 percent, outpacing the global rate of 5.5 percent.
Additionally, Bahrain has successfully diversified its economy, with the non-oil sector contributing nearly 84 percent of the GDP by the third quarter of 2023. This diversification underscores Bahrain’s resilience and adaptability in promoting economic stability and growth beyond traditional oil revenues.
