Oman tourism steps out of shadows
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In just 38 years the Sultanate of Oman has quietly transformed itself from a sleepy country into an economic powerhouse. With a strong economy and buoyant stock market, Oman’s renaissance has been fuelled by its economic charter, “Vision 2020”. Under the “Vision 2020” scheme, Oman is luring international investors to its tourism and real estate markets.
At present tourism accounts for almost 3% of the country’s annual GDP. With over US$30 billion already invested in tourism infrastructure Oman plans to double its number of hotel rooms to 18,000 by 2015. The new hotels will be a mix of 3-5 star luxury and boutique properties. Additionally, Oman has implemented business incentives for companies interested in investing in Oman’s high-end leisure and business tourism infrastructure.
“Oman has truly stepped out of the shadows of its UAE neighbours, with growth in Oman’s tourism sector recording a 9% increase against the expected 7% increase in 2007,” said Hazik Mohamed, ASEAN Director for the Oman Ministry of Tourism.
Other tourism investments will include the redevelopment of Muscat International Airport and the construction of three new regional airports, as well proposed “world-class” entertainment recreational facilities and 24-hour services such as restaurants and roadside stops for tourists.
“The Ministry will continue to promote and develop its regions and governates equally so that all local communities will benefit from the multi-billion-dollar tourism development – a move that has already contributed to increased job opportunities by 8.6% over the past five years,” Hazik added.
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