Aug 28 2012
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Tourism to add $2b to Bahrain's GDP yearly
In 2022, travel and tourism investment is expected to top $865 million compared to $545 million in 2011, the report said.
Such investment will play a key role in attracting the forecasted annual visitor figures to over eight million arrivals in 2022, compared to five million foreign tourist arrivals in 2011. Business travel spending in Bahrain is also forecast to rise to $449 million) in 2022.
Maissan Jalal Al Maskati, chairman of Ishraq Gulf Real Estate Holding and managing director of Dubai International Capital, said: "Bahrain has been and continues to be an attractive tourism and hospitality market."
"In fact, our decision to make such a substantial investment was driven by our long term confidence in the market's historically healthy occupancy levels and hotel rates, coupled by a sophisticated consumer base that demands a high quality limited service product."
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain Economic Development Board (EDB), said: "It is very encouraging that the Holiday Inn Express has opened up in Bahrain and we welcome them to the Kingdom."
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