Robust growth in key sectors, FDI flows exceeds BD1.2 billion | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Robust growth in key sectors, FDI flows exceeds BD1.2 billion | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

TDT | Manama                                                         
The Daily Tribune – www.newsofbahrain.com
The Hotels and Restaurants sector demonstrated robust growth, recording a remarkable 9.4% year-on-year increase during the third quarter, according to preliminary data of the Information and eGovernment Authority.
This surge was propelled by a notable rise in hotel occupancy rates for 4- and 5-star establishments, increasing by two percentage points to 49%. Additionally, total tourism overnights soared by 17.9%, reaching 4.8 million nights.
Financial Corporations
The Financial Corporations sector maintained its momentum, posting an 8.4% year-onyear growth. For the fourth consecutive quarter, this sector claimed the highest contribution to total real GDP among all non-oil sectors, accounting for 18.1%.
Positive performances were observed in various financial indicators, including the Electronic Funds Transfer System (Fawri+, Fawri, and Fawateer), which saw a substantial 15.6% year-on-year growth, reaching BHD 7.2 billion.
Trade sector
The Trade sector experienced a solid 5.9% year-on-year growth, driven by a 5.6% increase in mall footfall and a 5.1% rise in the value of Point of Sale and e-commerce transactions. The Real Estate and Business Activities sector showed resilience with a 2.8% year-on-year growth, fueled by a robust 5.4% increase in real estate activities.
The value of real estate trading climbed by 7.1% year-on-year, reaching BHD 272 million.
FDI surges
The report also highlighted the