The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Bahrain's economy is feeling the negative impact of lower oil prices, which has led to the
government cutting back on long-standing subsidies. This has negatively affected household and business
confidence, leading to more cautious spending in 2016. In the long term, the labour market continues to
expand on the back of sustained increases in the expatriate and local employed workforce, while the
government is undertaking steps to boost tourist inflows, positive signs for retailers investing in the market.
The balance between essentials and non-essentials spending will remain stable over the next five years;
however, given the higher earning power of households in Bahrain, the long-term outlook is extremely
attractive for luxury goods segments.
Key Views And Developments
? We forecast total household spending to increase by an average of 7.0% over the next five years, reaching
a total figure of USD20.5bn.
? Despite rapidly rising household incomes, the balance between essentials and non-essentials spending
will remain largely stable over the next five years, accounting for 64% and 36% of the total household
? Ikea will launch its first store in the country during 2016 as it expands its reach in the Middle East