Fact of the Month

Bahrain is owner of the Bahrain International Circuit, the only motorsport venue in the entire Middle East. The circuit plays host to the Formula One World Championship, as well as a host of other races, and is a source of national pride for Bahrain.

Feature of the Month: Bahrain

Bahrain, or the "Kingdom of Two Seas" in Arabic, is a 33-island archipelago located in the Persian Gulf. Bahrain's rise as an economic power in the Middle East stemmed from being the first Gulf state to discover oil in the region. Although this oil supply is expected to run out in 10-15 years, Bahrain has diversified its economy in financial services, retail, and tourism, and subsequently become the fastest-growing economy in the Middle East. In addition to this, Bahrain is also the freest economy in the Middle East, and the 16th freest in the world, primarily due to its lack of income or corporate taxes. Furthermore, several policies embracing global trade have made Bahrain an ideal place to trade with and do business in. Policies such as significant labor market reforms have made Bahrain an ideal location for trade and investment, and the financial market development in Bahrain is the most-developed and diversified in the region. In addition, 100 percent foreign ownership is allowed in over 95 percent of business activities, resulting in little need for local partners.

As well as being a hotbed for investment and trade, Bahrain also draws a significant number of tourists, over two million a year, primarily from Saudi Arabia and other Gulf states. Although Bahrain is an Islamic state, its relatively liberal and modern policies pertaining to things such as alcohol, which is currently banned in Saudi Arabia, have made it an entertaining and convenient spot for other Gulf state residents. Ultimately, Bahrain's economy should continue its rapid growth, fueled by this growing tourist draw and a large influx of real estate investments.

From the globalEDGE Blog

Since its establishment in 1981, the Gulf Cooperation Council (GCC) has made its primary priority to be the creation of a monetary union, and subsequently, a single currency across the region. The Gulf Cooperation Council is a trade bloc of six Arab nations residing in the Persian Gulf: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The GCC nations, excluding Oman and the UAE, have aimed for January 1, 2010 as a deadline for establishing a common currency. If the GCC is successful in establishing a single currency among their member nations, what implications could this have for them and the international business world?

• Read more on the globalEDGE Blog!

Featured Resources

Expat Blog
Expat Blog is a comprehensive, user friendly site written by expatriates, for expatriates. The site features blogs, pictures, and discussion forums for country and city-specific locations of people working internationally. It also locates expatriates by their home country and by the location of working abroad. Free registration is required to create your own profile. Site is available in English, Spanish, and French.
Category: Travel/Living Abroad

Center for International Private Enterprise
The Center for International Private Enterprise is a non-profit associate of the United States Chamber of Commerce. Its goal is to encourage democracy through private enterprise and market reform. Specific articles, speeches, and helpful resources can be found in the Corporate Governance section under Programs.
Category: Corporate Governance Resources

• For a more comprehensive list of resources, check out globalEDGE's Resource Desk!

Featured Academy

Doing Business in the Middle East
The Middle East module provides one with a general understanding of the following: hot industries and business opportunities in the Middle East; its business culture (including issues such as punctuality and gift giving); doing business specifically in Egypt, Israel, and Turkey (including major trends, hot industries, proper business conduct, and current business opportunities); and the major political risks of doing business in the Middle East, which could be potential costs. A case study on the economic diversification of the Organization of Arab Petroleum Exporting Countries (OAPEC) is also included.
Category: Online Course Modules

Vanderbilt University Television News Archive
The Television News Archive collection at Vanderbilt University is the world's most extensive and complete archive of television news. The collection holds more than 30,000 individual network evening news broadcasts from the major U.S. national broadcast networks: ABC, CBS, NBC, and CNN, and more than 9,000 hours of special news-related programming including ABC's Nightline since 1989.
Category: Video Depositories

• For more links to academy resources, check out our Academy Page on globalEDGE!

globalEDGE Business Review

"Strategic global supply chains"
By: Tomas Hult
Does your global supply chain adopt a narrow or broad focus? Is either of speed, quality, cost, or flexibility the key outcome in your chain? If so, certain elements drive your performance more than others. But if you truly go for the gold standard, your focus is probably on running a strategic global supply chain (SGSC). Do you know the drivers of a SGSC?

• If you wish to share your expertise on an issue in international business, visit our gBR Homepage to see how and where to submit your entry.

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