Bahrain Emerges As Global Leader In Technology, Talent: WEF Report Reveals Top Scores
Bahrain has achieved a significant milestone in the World Economic Forum's (WEF) first-ever Future of Growth Report 2024. The country emerged as a leader in several critical areas, including talent and technology. The report, introduced in January, moves beyond traditional growth metrics to assess the quality of economic expansion across 107 countries. It focuses on four main pillars: innovation, inclusivity, sustainability, and resilience, highlighting seven distinct growth models that offer policy inspiration and development insights.
The Kingdom's standout performance has placed it second in the Gulf region for per capita GDP growth, showcasing exceptional resilience. Specifically, Bahrain excelled in the resilience pillar, with notable achievements in human capital indicators. These include a young population with a score of 90.1, the capability to fill job vacancies with a global workforce scoring 75.6, and an investment in reskilling talent at 70.2 — each significantly surpassing the global average.
Bahrain's infrastructure quality, financial system resilience, technology supply concentration, and government adaptation at an institutional level also scored above the global average. The kingdom's talent pool was particularly impressive, with overall talent availability and digital and technology talent both exceeding global averages with scores above 66 and 67, respectively. Moreover, Bahrain achieved a perfect score of 100 in advanced service exports.
In the technology ecosystem category, Bahrain slightly exceeded the global average in business culture and competition. The nation's financial ecosystem was also notable, with above-average scores in digital payments, long-term finance, and support for small and medium-sized enterprises (SMEs). In terms of inclusiveness, Bahrain ranked above average in workforce inclusion and significantly higher in access to financial services.
The Bahrain Economic Development Board (EDB), the nation's primary investment promotion agency, has linked these impressive results to the country's focus on innovation and talent development. Nada AlSaeed, EDB's chief of strategy said, "Bahrain's exceptional performance cements our reputation as a hub for talent and progressive governance." She further highlighted the kingdom's dedication to attracting global investors, stating, "Our business-friendly environment, combined with continuous investment in human capital, positions us as a frontrunner for establishing a presence in the region."
These achievements follow Bahrain's successful participation at the 2024 WEF Annual Meeting, further solidifying the nation's status as a leader in fostering trust and driving sustainable economic progress. This recognition by the WEF Future of Growth Report underscores Bahrain's strategic focus on harnessing innovation and talent to advance its economic landscape.
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