As per the International Monetary Fund (IMF), Bahrain's economy contracted by 5.4% in 2020 as the COVID-19 pandemic severely affected the tourism and energy sector. According to a report by the UN Conference on Trade and Development (UNCTAD), Bahrain's tourism sector is amongst the hardest hit by COVID-19 pandemic. As compared to 2019, the industry witnessed losses between $1.7 trillion and $2.4 trillion in 2021.