Bahrain as “ Pearl of the Gulf” … Investing in Culture Attracts Tourism
Knowledge Based Economy
Bahrain’s economic freedom score is 75.2, making its economy the 12th freest in the World. (Heritage Foundation, 2012)
Bahrain ranks 4th in the MENA region and ranks 38th worldwide amongst 183 economies in terms of business regulations and their enforcement . ( World Bank Group, 2011)
• Unemployment Rate of 4 % (MOL, 2012) • Region financial hub; home to more than 400 banks and financial institutions. (EDB, 2011)
Regional and International Tourism Regional Tourism by both GCC residents and nationals represents almost 50% of total arrivals to Bahrain. Cruise Tourism is a very important link between regional and international in 2010 cruise tourism reached 132 thousand passenger registering an increase of almost 50% when compared to 2009.
Formula 1 Grand Prix • •
Contributes US$596 million, indirectly to the economy. More then Seventy percent of visitors to travelled by air, bringing a boost to all the major carriers. Hotels occupancy over the Grand Prix period at 75-100%, with 5 star hotels at capacity and a dramatic 30% increase in trade for three star hotels and resort accommodation. Premium prices, on average 15% more than equivalent stays in the Kingdom throughout the rest of the year.
Investing in Culture Attracts Tourism â€œ Investing in culture allows to channel a portion of our financial resources to a process of forgoing cultural links and global communication , promoting our cultural heritage.â€? - H.E Sheikha Mai bint Mohammed Al-Khalifa Minister of Culture
Investing in Culture • Strong lever of economic development - Generates Profit - Employment Multiplication Factor •
Generates a better quality of Life - Safety - Quality of the environment - Maintains cost of living
Contributes to international visibility and brand image - Tourism - Attract foreign investment
Spring of Culture •
Bahrain’s sixth consecutive Spring of Culture event.
List of art exhibitions, musical performances, lectures and family events more staggering than ever before playing host to talent from around the region and the world.
Venues from Arad Fort to Bahrain National Museum to cultural centers .
Manama Capital of Arab Culture 2012 •
Manama Capital of Arab Culture 2012 is an innovative program of cultural dialogue and exchange running throughout the year.
A different theme introduced at the outset of each month i.e. January was the month of “ Art” and February celebrates “architecture” etc.
The program continues reflecting a diverse array of cultural fields, from design to heritage, environment and theatre targeting both local and regional audiences.
Manama Capital of Arab Tourism 2013 â€˘
The investments of Manama Capital of Arab Culture will be the platform to build on Manama the Capital of Arab Tourism.
Large amounts of investments were injected on cultural sites projects that will be the center of attraction for tourists and launching main events.