Newly released market study: Bahrain Retail Report Q3 2015

The sales in the Bahraini retail sector will continue to grow, encouraging both domestic and regional developers to invest confidently into new retail units. The country's retailers currently benefit mostly from the proximity to the large Saudi market, large household income and the annual Formula-1 race. We forecast that the country's retailers will be exploring new growth opportunities targeting tourists, Saudi clients and wealthy expats.

The sudden drop in oil prices was feared to threaten the Bahraini economy in 2014. While the decline inevitably slowed down the accumulation of the country's financial reserves, Bahrain, as other members of the Gulf Cooperation Council (GCC) proved its resilience against the risks posed by the international economic climate. GCC countries are rapidly becoming increasingly independent from their oil revenues with most of their economic growth focused in the other economic sectors, such as financial services, tourism, retail and aviation. Unlike UAE or Qatar, Bahrain does not have a distinctive appeal for foreign investment yet, which leaves it at the region's periphery. However, new developments are not stalling in the country with several new large malls and residential properties currently under construction. Non-oil sectors were driving the growth of the economy last year expanding by 4.9%, according to Bahrain's Economic Development Board. Meanwhile, the country's GDP expanded by 4.3% in the same period.

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We forecast that the country's large financial reserves, high household income and growing population will enable ambitious retail developments in Bahrain. Luxury, rather than high-street, retailers will enjoy more opportunities in the country. Almost 60% of Bahrain's households will have an income above USD50,000 in 2019, a much higher figure than the current 51.2%. New malls, such as Galleria and The Courtyard, will add new space for luxury retailers to occupy. With the growing supply of luxury products, we...

The Bahrain Retail Report has been researched at source and features BMI Research's independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Bahrain Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

* Benchmark BMI's independent retail industry forecasts for Bahrain to test other views - a key input for successful budgeting and strategic business planning in the Bahraini retail market.

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