Bahrain’s Chamber of Commerce and Industry revealed its members are anticipating a USD2.9 billion surge in spending once the King Fahd Causeway re-opens on 17 May based on tourist spending habits from 2019.
This comes after Saudi Arabia announced it will lift its suspension on citizens travelling abroad, and open land, sea, and air borders on 17 May.
Bahrain welcomed more than 12 million visitors in 2019, predominantly from Saudi Arabia and the neighbouring GCC countries.
Commenting on the announcement, Ali Al-Mudaifa, Executive Director at the Bahrain Economic Development Board said: “Deep economic, political and cultural connections between Bahrain and Saudi Arabia are the foundation of our relationship. Although trade between our two nations has been sustained with great success during COVID-19, tourism was significantly affected.
“Bahrain provides a multidimensional tourist marketplace including properties and other investment opportunities that can leverage the Kingdom’s proximity to Saudi Arabia – the largest consumer market in the GCC – and cater to not only Saudi’s but the wider region’s demand. We look forward to welcoming Saudi visitors back to the island.”
Over the last 12 months significant investments have been made into Bahrain’s real estate and tourism sectors, including several wellness, resort, and coastal and maritime developments.