Growth Set To Surge

[abdulla]

Originally Posted by Gulf Daily News

Bahrain's gross domestic product (GDP) is set to grow by almost a third over the next five years, says a top international financial think-tank. The country's GDP will grow from last year's estimated $15.5 billion (BD5.859bn) to $20.4bn (BD7.7bn) by 2011 - an increase of 31per cent, predicts the London-based Economist Intelligence Unit (EIU). GDP per head of population is forecast to hit $24,400 (BD9,223) in 2011, breaking through the $23,000 (BD8,694) barrier this year.
Bahrain's continuing growth will be underpinned by the predicted strong performance of the retail, tourism and telecommunications sectors, EIU says in its latest country briefing.
But it warns that Bahrain will face strong competition from its neighbours over the coming years.
Any sudden economic slowdown caused by regional events, or a sudden fall in oil prices, could leave the country with more retail outlets and luxury hotels than it needs, it says.

source: Gulf Daily News