Report: Bahrain among the best for expats, investments

Manama, Feb. 6 (BNA): Bahrain is among the best places for investments in the world, a report by BBC Arabic said. While lauding Bahrain’s work environment, BBC Arabic website, which is among the oldest in the world, highlighted the kingdom’s ranking, in a recent global report, as the second best destination for expatriate workers, after Germany, leading many key attraction places, such as Singapore and Hong Kong. The Expat Explorer survey, conducted by "HSBC Expat", the external banking arm of the HSBC Group, examined the way more than 22,000 expats around the world feel about their lives overseas, regarding their experiences, economics and family life. Expats were asked about their views regarding work/life balance, job security, career progression, wage growth, among others. 60% of the respondents said that the work culture in Bahrain is better than that in their home countries. The kingdom was also appreciated in the fields of career security, career opportunities, progression and fulfilment. BBC Arabic highlighted the efforts exerted by Bahrain over the past years to reform the work environment for the sake of improving workers’ conditions and rights. Such efforts were the fruitful outcome of His Majesty King Hamad bin Isa Al Khalifa’s directives. The BBC Arabic website lauded the efforts exerted by the Economic Development Board (EDB), led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, in boosting economic diversity and non-oil revenues. The website said that EDB seeks to promote the kingdom’s status as the "Silicon Valley of Middle East" through the keenness of the government, led by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa to provide a package of incentives and create a stimulating atmosphere for emerging enterprises in the e-commerce and private investments. BBC asserted that banking is the second most important sector after oil in Bahrain, noting that the kingdom is a leader in the Islamic-Sharia-compliant Islamic financing. BBC Arabic reported that John Goddard, Head of HSBC Expat, had lauded Bahrain’s economic diversity policy, which, he said, had led to creating exciting opportunities for skilled expats who look forward to enhancing their professional life. The report featured success stories of expatriates living in Bahrain, who affirmed that it was the best place for living and working. They also lauded Bahrain’s openness policy, stressing that they feel safe in their jobs. The respondents also highlighted Bahrain’s diversity and peaceful co-existence, noting that competence is the only criterion at work. BBC Arabic said that wages, as well as housing, education travel allowances and low cost of living (compared to other GCC states) stimulate qualified expatriate workers to come to Bahrain. HSBC Expat Survey also highlighted the respondents’ views in which they revealed the kingdom’s advantages as an investment hub, affirming that it is a good place for startups, and praising the government’s incentives for investors.