Top 10 Business Opportunities In Bahrain
Bahrain is an island in the Gulf of Persia, which is hailed to be one of the first producers of oil in the world. For this reason it experienced very quick economic growth earlier on. It suddenly started to a decline in its economic growth after the depletion of its oil reserves. The country has now seen the need to diversify its economy to make sure that they continue in a steady and positive economic growth. They have also seen the importance of foreign investors and encourage their investment a great deal.
Bahrain is a beautiful country with unique scenery and diverse wildlife to add to their depth in their culture. The country has a potential to be one of the biggest tourist destinations in the world. Establishing hotels would be a very viable business opportunity as you can explore the ever growing tourist numbers.
-Oil Exploration and Drilling
Oil is what catapulted the country to its prior economic growth. As the reservoirs get depleted the country is still searching for more oil sources in the country. You can also invest in the already established oil wells as it will be some time before it is depleted and you can enjoy the benefits as of now.
With the country producing less oil every year there is a need for value addition to their products. The oil is refined to petroleum and its by-products, it is then exported as a finished product fetching a much higher return in the end.
-Alternative Sources of Energy
The country is a desert and would be perfect to harness solar and wind energy. This power generated would then be used to run other industries or sold to the country residence.
-Invest in the Banking Sector
Bahrain has one of the most stable economies in the Middle East, with liberal ideas and a free market. Its annual average income is higher than most European countries. For this reasons the banking sector provides a business opportunity in an already established sector, reducing the risk involved in the business.
-Duty Free Industry
A duty free export-import industry would allow you to sell your product at better prices and with less market resistance. It will also make it easier and cheaper to acquire your raw material, making it ideal to venture into the export-import sector of the country.
-Ship Repair Company
The island has some of the best and biggest ship traffic in the world. There is a large number of ships moving in and out of the country, making it an ideal place to set up a ship repair company.
-Invest in Real Estate
The country has a lot of under developed tracks of land. Due to the fast paced development of the country people from all over the world are getting themselves a Bahrain visa and moving to the country. The country’s property has now become an ideal business opportunity.
The acceleration of the economy and change in the ideology of the government has led to quicker development of the country’s infrastructure to aid in the transport of their products and the movement of the people. A construction company will lead to you ripping profits on one of the hottest businesses in the country at the moment.
The country is trying to establish itself as a major steel manufacture in the Middle East and we have seen of late a big number of steel companies developing and establishing. Due to the government support the steel industry has become a very successful venture in the country.
Scott Archer is a professional content writer and blogger from the UK who shares his travel experiences. His hobbies include travelling, trekking and cooking and he is currently working on a project Bahrain Visa which helps in visa assistance.