Business opportunity (spc) Single person company

There is a reason why living cost is low in Bahrain.  As it is not the preferred destination in the GCC like the UAE is. 

Secondly, with lower living costs, come lower salaries and income.   So it is a balance.  You pay less because you earn less and there is less resultant inflation.  Simple supply and demand economics.

Bahrain like UAE is semi developed for a long time and as such, there is no particular "virgin market" as you would like to call it.  This is not sub saharan africa .  In some products or services, you might face less competition but in fields with no competition, it is because the set up probably requires huge investment e.g. IMAX cinemas 3-4 years ago (there were none in Bahrain until Novo opened).

I would suggest that you visit Bahrain to get a feel for the country and explore business opportunities through detailed market research.  Posting on the forums will not give you a sure shot successful business idea.