Bahrain’s Chamber of Commerce and Industry on Thursday revealed its members are anticipating a $2.9 billion surge in spending once the King Fahd Causeway re-opens later this month.
The figure is based on tourist spending habits from 2019 and comes after Saudi Arabia announced it will lift its suspension on citizens travelling abroad, and open land, sea and air borders on May 17.
Bahrain welcomed more than 12 million visitors in 2019, predominantly from Saudi Arabia and neighbouring GCC countries.
Ali Al-Mudaifa, executive director at the Bahrain Economic Development Board, said: “Deep economic, political and cultural connections between Bahrain and Saudi Arabia are the foundation of our relationship. Although trade between our two nations has been sustained with great success during Covid-19, tourism was significantly affected.
“Bahrain provides a multidimensional tourist marketplace including properties and other investment opportunities that can leverage the Kingdom’s close proximity to Saudi Arabia – the largest consumer market in the GCC – and cater to not only Saudi’s but the wider region’s demand. We look forward to welcoming Saudi visitors back to the island.”
Over the last 12 months, significant investments have been made into Bahrain’s real estate and tourism sectors, including several wellness, resort and coastal and maritime developments.
In March, it was announced that a pilot scheme that used the latest smart technology to process trucks on the King Fahd Causeway between Bahrain and Saudi Arabia is to be rolled out permanently after trucks were able to cross the bridge 12-times faster than before, reducing waiting times of up to four hours to just 20 minutes.
The pilot had been running since January 2020 and its success led to the Causeway Authority inking and MoU with Saudi Arabian platform provider Tabadul who will be responsible for rolling the scheme out to all cargo traffic on both sides of the border.
The platform will allow drivers to book appointments with customs authorities in both Bahrain and Saudi, making the crossing process much more efficient and facilitating swifter trade between the two kingdoms.
Plans are underway for a second bridge connecting Bahrain and Saudi Arabia, offering enhanced capacity for cargo trucks as well as the latest technologies to enhance export activity and improved customs processes.
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