Bahrain is a group of more than 30 islands located at the western shores of the Persian Gulf in the Middle East. In 2010, the total population of the country was 1,234,571, including 666,172 non-nationals. According to the CIA’s Worl Factbook, the largest group of people living in the country were between the ages of 25 and 54 and consisted of 461,613 men, which was double the number of women, at 241,032. It is the home of more than 330 species of birds, including the globally endangered Chlamydotis Undulata, the Houbara Bustard. Millions of other migratory birds pass through this country during the autumn and winter. There are only 18 species of mammals on these islands but there is very rich and diverse marine life.
Bahrain recently revised its economic strategy, targeting better financial services and construction. Both the sectors saw valuable growth, boosting the country’s economy.
Where Does the Nation Stand Today?
Despite facing many challenges from external as well as internal environment, the country has managed to grow steadily. It is a financial hub for dynamic economic activities. Its currency is the second most valued currency in the world. Many foreign companies have invested in the country’s capital, Manama. Petroleum is the most exported item from the country, accounting for 60% of the export receipts and generating 70% of the government’s revenue. According to the Index of Economic Freedom, it was the freest economy in the Middle East in 2011. The nation had an unemployment rate of 15% back in 2005, which declined to 4.1% in 2016. The per capita income of the country is $51,714, as of 2016. Bahrain also registered foreign direct investment of $957.4 million in the year.
The nation’s growth is being driven by its government’s ‘Bahrain Economic Vision 2030’ plan, which aspires to shift an economy built on oil towards an internationally competitive economy based on the principles of sustainability and fairness. This how things may look like in Bahrain by 2030:
- The population of the country is expected to cross the 12 million mark by the end of 2030.
- The nation will an average age of 31.2 years.
- The improvement in medical facilities will mean there will be more births than deaths between 2012 and 2030.
- The age group of 60+ will grow by 91.2% in this period due to increasing life expectancy.
- Manufacturing, transport, IT and tourism will become important sectors and will generate a majority of revenue for the country.
- The government’s plan of lower spending for sustainability will also help in building a brighter economic future.
Bahrain 2030 is not just an idea, it is a vision for a brighter future.