DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/318c56/bahrain_retail_rep) has announced the addition of the "Bahrain Retail Report Q1 2012" report to their offering.
Business Monitor International's Bahrain Retail Report provides industry professionals and strategists, corporate analysts, retail associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Bahrain's retail industry.
BMI's Q112 Bahrain Retail Report forecasts that the country's retail sales will rise from an expected BHD0.46bn (US$1.22bn) in 2011 to BHD0.57bn (US$1.52bn) by 2015, boosted by a growing interest in Western styles of retailing and a steady rise in disposable incomes. However, this assumes that the ongoing political crisis that has weighed on the country's short-term economic outlook is resolved over the medium to long term.
Bahrain's nominal GDP in 2011 is forecast to be US$22.01bn, rising to US$27.96bn in 2015. Real GDP growth is expected to be 1.4% in 2012 as political and economic difficulties persist. Average annual GDP growth of 2.8% is predicted by BMI between 2011 and 2015.
Statistics from the Ministry of Culture and Information's tourism affairs division show that tourist arrivals rose by an average of 10-15% a year over the past three years. In 2007, Bahrain attracted 5.5mn tourists, 4.9mn of them from other Gulf Cooperation Council (GCC) member countries. Before the political unrest, tourism arrivals were forecast to rise by an average of 2.5% per annum over the next decade.
The annual Formula One (F1) grand prix in Sakhir has generated hundreds of millions of dollars in revenue since it became a fixture on the racing calendar in 2004, and its cancellation in 2011 undoubtedly had a knock-on effect on retail sales. However, its reinstatement on the 2012 F1 calendar is good news for the retail sector.
In 2005, 71.2% of the Bahraini population was described by the UN as economically active, with 40.7% in the 20-44 age range crucial for retail sales.
For more information visit http://www.researchandmarkets.com/research/318c56/bahrain_retail_rep