Bahrain achieves top DHL Global Connectedness Index ranking
INDUSTRIAL NEWS
Bahrain has achieved top rankings in the Global Connectedness Index 2024, published by logistics giant DHL, climbing seven ranks to 25th position globally. The kingdom now stands as first globally in Inward Merger & Acquisitions percentage of GDP, representing 19% of its GDP.
The Kingdom of Bahrain has achieved impressive results on the Global Connectedness Index 2024, published by international logistics giant DHL, climbing seven ranks to secure the 25th position globally and the most improving country since 2021.
This remarkable progress reflects the island nation's growing integration with the global economy.
The report measures 181 countries on how well they integrate and connect with the rest of the world based on international flows across the four main domains of Trade, Capital, Information, and People.
In an impressive display of ability to attract investment, Bahrain now stands as the 1st globally in Inward Merger & Acquisitions percentage of GDP, representing 19% of its GDP.
This achievement underscores Bahrain’s attractiveness as a destination for investment and indicates the confidence that the international business community has in its business-friendly environment.
According to the DHL Global Connectedness Index 2024, Bahrain’s economic diversity is further showcased in its dominance in the Trade of Services as a percentage of GDP, leading the Gulf Cooperation Council (GCC) in this category.
The Kingdom has also emerged as a premier destination for tourists within the region, ranking first in the GCC for Inbound Tourism when measured by departure and arrival per capita.
These accomplishments reflect Bahrain’s successful efforts to diversify its economy and enhance its priority sectors, including tourism, which continues to grow and contribute to the Kingdom’s sustainable economic growth.
On the key achievement, Nada Alsaeed, the Chief of Strategy at Bahrain Economic Development Board (Bahrain EDB), said: "Bahrain’s status as the most improved nation in the Global Connectedness Index stands a witness to its robust economic strategy and proactive engagement in the international economy."
"Since last year’s report, the seven-position climb is a testament to Bahrain’s dedication to building a resilient and open market economy that actively participates in the global exchange of goods, services, and capital," stated Al Saeed.
Moreover, the Kingdom’s 2nd place ranking in the Middle East and North Africa (Mena) region for Global Trade Connectedness highlights its significant role in the international trade ecosystem.
The Kingdom has effectively leveraged its strategic location and logistics capabilities to integrate with global markets, facilitating free trade flows with 25 countries, which provides duty-free access to 32% of the World’s GDP, she said.
In the Global Connectedness Index 2024, DHL said: "The key factors in Bahrain’s growing connectedness were increases in both merchandise exports and inwards M&A activity. Bahrain has long sought to boost international business activity as part of its economic development strategy."
Bahrain has consistently invested in its infrastructure, regulatory reforms, and digital transformation, creating an ecosystem that supports innovation, diversification, and global collaboration, stated the logistics giant.
These efforts have not only enhanced the Kingdom’s competitiveness on the world stage but have also fostered a resilient economy.
Over a two-decade period, Bahrain’s nominal GDP increased from around $11 billion in 2003 to over $43 billion in 2023, marking an average annual growth of 7%, surpassing the global average of 5%, it added.-TradeArabia News Service
