The Bahrain Economic Development Board (EDB) recently revealed investment in Bahrain’s tourism infrastructure has reached over $13 billion. The figure covers 14 prominent projects that will further boost growth in the Kingdom’s tourism and leisure sector.
The sector witnessed rapid growth over the past year, with the total number of tourists visiting the Kingdom increasing by 12.8 percent in the first nine months of 2017. The Kingdom is also witnessing further enhancement to its tourism infrastructure to support this growth, which plays a significant role in Bahrain’s economic diversification efforts.
“The total number of tourists visiting Bahrain reached 8.7 million during the first nine months of this year, a significant number considering our resident population of only 1.5 million people,” said Dr. Simon Galpin, managing director of Bahrain EDB.
“The tourism sector is one of the key investment sectors we recognize as having a strong competitive advantage for Bahrain. It contributes 6.3 percent to the country’s GDP, and is set to grow significantly, as the number of visitors and leisure activities increase. Bahrain continues to reaffirm its position as a tourism destination of choice with a number of new hotels, retail and leisure developments currently underway.”
The tourism investment projects are part of Bahrain’s large-scale infrastructure development across a wide range of sectors and are valued at over $32 billion. This public-private sector investment consists of $10 billion of government funding, $7.5 billion under the GCC Development Fund, and $15 billion worth of investment in the private sector.
As part of these developments, the Bahrain International Airport is undergoing a $1.1 billion modernization program, set to increase passenger capacity from nine to 14 million per year by 2020. This will go hand in hand with the new five- and four-star hotels and resorts in the tourism development pipeline that will cater to current and future demand.
Other infrastructure investment projects include the development of a number of shopping malls such as Dilmunia Mall and the Marassi Galleria shopping complex, to join the recently-opened $159-million Avenues Mall at Bahrain Bay.
Furthermore, Bahrain’s tourism strategy also extends to medical-tourism projects through King Abdullah Medical City, and mixed-use real estate projects such as Bahrain Bay, Bahrain Marina, Diyar Al-Muharraq, Water Garden City, Dilmunia, and Marassi Al-Bahrain where Emaar Hospitality brands such as The Address Hotel and Vida are under construction.
Investment in Bahrain’s tourism projects exceeds $13 billion
Investment in Bahrain’s tourism projects exceeds $13 billion
Riyad Bank and Mastercard join forces to empower MSMEs
Riyad Bank and Mastercard have collaborated to provide small and medium-sized businesses in Saudi Arabia with enhanced access to funding. The two entities have introduced a unique credit card program offering micro, small, and medium-sized enterprises access to financial solutions to grow and thrive.
As part of the agreement, Riyad Bank will enable MSMEs across the Kingdom with a three-tier credit program providing greater choice and flexibility in the form of unique cards: the Mastercard NMOO Business Credit Card, Mastercard NMOO Executive Credit Card, and Mastercard NMOO World Credit Card.
Each of these unique products will offer flexible limits, supporting enterprises and entrepreneurs to take greater control of their futures. They will deliver real-time solutions that support MSMEs to help buy, operate and sell, bridging financing gaps, and providing access to funding by enabling enterprises to get approved for credit facilities, for example, for business expansion.
“As one of the largest financial institutions in the Kingdom, we are fully committed to serving as a trusted financial solutions partner to the people, businesses, and entities we support,” said Mohammed Abo Al-Naja, chief corporate banking officer, Riyad Bank. “Over the years, we have helped to drive the growth and development of Saudi Arabia’s micro, small, and medium-sized enterprises ecosystem, and today, we are more determined than ever to empower businesses to realize their potential. We are pleased to have partnered with Mastercard to launch our truly novel three-tier credit program, powering the future of MSMEs with timely access to crucial funding.”
“At a time when Saudi entrepreneurship is truly beginning to flourish, we recognize that effective partnerships and innovation are essential to empowering micro, small, and medium-sized enterprises to advance and thrive,” said Adam Jones, EVP and division president, West Arabia, Mastercard. “Our partnership with Riyad Bank was launched with this goal in mind. Together, we aim to provide MSMEs with essential access to critical lending and funding. We look forward to expanding our first-of-its-kind program to more businesses across the country and supporting them in achieving their goals.”
SAS digital twins transform manufacturing
SAS is poised to help transform critical processes in the manufacturing industry with enhanced digital twins that combine SAS’ powerful AI and advanced analytics with Unreal Engine from Epic Games.
With these digital twins, manufacturers like Georgia-Pacific can experiment with new strategies in simulated digital worlds, then take the best approaches and implement them in the real world.
One of the world’s leading manufacturers of paper and wood-based building products, GP is piloting these enhanced digital twins at its Savannah River Mill, which manufactures napkins, paper towels and toilet tissue.
GP is leveraging SAS’ technology to optimize its use of automated guided vehicles and other processes.
New digital health platform for pilgrims
Healthtrip, the world’s largest health travel platform, has launched Healinharam.com, a dedicated digital platform that connects international tourists, particularly pilgrims, to a trusted network of medical, wellness, and chronic care services across Makkah, Madinah, and Jeddah.
The initiative directly supports Saudi Arabia’s broader ambition to establish itself as a global hub for medical and wellness tourism, in line with Vision 2030.
It also responds to increasing demand for high-quality care services during pilgrimage as the Kingdom continues to rapidly scale its healthcare infrastructure and wellness offerings.
Through Healinharam.com, pilgrims can now book health screenings, wellness therapies, and essential treatments such as dialysis, chemotherapy, and others, at leading Saudi hospitals.
Najm showcases traffic accident response system
Abdullah Al-Khalaf, acting CEO of Najm for Insurance Services, announced that the company has developed an integrated digital system for its traffic accident inspection service.
This development contributes to improving the efficiency and speed of handling and responding to traffic accidents, ensuring the safety of road users, reducing traffic congestion, and supporting environmental sustainability.
This announcement came during Najm’s participation in a workshop organized by Naif Arab University for Security Sciences, titled “Mechanisms for Dealing with Road Accident Offenders Under the Influence of Drugs.”
The event was held on May 28–29, with the participation of Arab and international experts specializing in security and safety.
Al-Khalaf emphasized Najm’s role in supporting the goals of Saudi Vision 2030 through the development of a smart, digital insurance sector.
XYZVerse warns against ongoing phishing scams targeting community
The XYZVerse team has alerted its community to an increase in phishing scams and impersonation attempts by malicious actors posing as official representatives. The warning has been posted on XYZVerse’s official X account. These scammers are distributing fraudulent links, attempting to deceive users into revealing sensitive wallet information or transferring funds under false pretenses.
The rise in scam activity comes as XYZVerse gains momentum within the Web3 and meme coin space. With a growing community, rising visibility, and ongoing project development, the platform has become a target for opportunistic attackers seeking to exploit its success.
To maintain transparency and security, XYZVerse has undergone independent security audits conducted by Pessimistic and SolidProof, two established firms in the Web3 security space. These audits are designed to assess and validate the integrity of the project’s smart contracts, helping to identify potential vulnerabilities before malicious actors can exploit them.
The project’s official Polygon-based token address is publicly available on the XYZVerse website, and XYZ tokens are only available for purchase through the official website: xyzverse.io.
Warning signs of a scam:
- Messages from fake “XYZVerse Support” or team members
- Suspicious links promising exclusive airdrops or claiming token sale updates
- Requests for wallet access, seed phrases, or private keys
Fake communication often mimics the tone and branding of the project’s official channels. These attempts have included messages from unaffiliated Telegram or social media accounts, links to counterfeit airdrops, and websites mimicking the xyzverse.io domain. No legitimate communication will request wallet credentials, seed phrases, or private access information.
XYZVerse is actively monitoring the situation in coordination with its security partners and will continue taking steps to minimize exposure to fraudulent activity. Updates will be shared through established and verified communication channels.
