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A vital sector

In 2015, 57% of Middle Eastern companies lost more than $500,000 compared to 33% globally. The need for cybersecurity firms in the region has never been more pressing.

According to PwC Middle East Cybersecurity Survey, only 37% of firms in MENA have a comprehensive security and training awareness program in comparison to 53% globally.

An untapped opportunity for cybersecurity firms

The 2012 Shamoon attack on Saudi’s Aramco was one of the most destructive cyber-attacks on a private business.

In 2013, UAE and Oman banks suffered a loss of over USD 45mn due to one of the biggest ATM cyber-heist in the region.

With over 400 financial institutions in Bahrain, the Kingdom as well as the overall region is a great target to many cyber attackers worldwide.

Bahrain, with its cloud first policy, is committed to accelerating the transition onto the cloud. This presents a new set of opportunities for companies offering products that secure cloud based software and infrastructure.

Human Capital

With 900+ yearly graduates in ICT courses, a cost competitive workforce, and universities / technical institutes offering ICT courses, Bahrain can close the skill gap currently in the MENA region cyber security market

Universities and training institutes which are tapping into the cyber security sector include:
• Polytechnic
• BIBF
• Bournemouth University (In collaboration with Gulf Academy & Distinction)

Ideal testbed

Bahrain acts as a gateway to the GCC region and offers access to Saudi Arabia’s large market. Just off the coast of Saudi, Bahrain is directly connected to the vast Eastern Province via the King Fahd Causeway. Bahrain’s market size, although small, is represented mainly by SMEs which contribute to about 28% of the Bahraini GDP. This sets Bahrain as an ideal testbed for companies to pilot and test new products/solutions before launching in bigger markets.

    • 1st

      in MENA in ICT readiness

Bahrain has an open and forward-thinking approach, investing heavily in the ICT infrastructure around the Kingdom. Ranked 1st in MENA in ICT readiness, Bahrain offers nationwide high speed 4G LTE network.

Who’s Here:

Get in touch

Ameena Al Shirawi

Executive

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