Transitioning from an oil economy to a knowledge economy
As Bahrain gears up to focus on becoming a knowledge-based economy, analyst, Ghada Abdullah looks into what this means for Bahrain and how it can be achieved. Given in a knowledge economy, intellectual capacity, rather than material inputs or natural resources, is the main component of the economy and noting that currently Bahrain’s economy is heavily dependent on natural resources, with the oil sector accounting for about a fifth of GDP, how can Bahrain become a knowledge-based economy?
