Travel and Tourism in Oman
Travel and Tourism in Oman
Travel And Tourism in Oman report offers a comprehensive guide to the market at a national level. It looks at travel accommodation, transportation, car rental, tourist attractions and retail travel. It identifies the leading companies and offers strategic analysis of key factors influencing the market, including background information on disposable income, annual leave and holiday taking habits.
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* Get insight into trends in market performance
* Pinpoint growth sectors and identify factors driving change
* Identify market and brand leaders and understand the competitive environment
Product coverage
Car rental; Demand factors; Health and wellness tourism; Tourism flows domestic; Tourism flows inbound; Tourism flows outbound; Tourism receipts and expenditure; Tourist attractions; Transportation; Travel accommodation; Travel retail
Executive summary
Oman’s travel and tourism industry: halfway through achieving Vision 2020
Oman’s travel and tourism industry is now halfway towards achieving its Vision 2020. The latter revolves around five areas of focus establishing Oman as a regional travel and tourism hub, increasing the contribution of the market to GDP to not less than 3%, increasing the participation of the private sector and activating its role in the development of various tourism activities, attracting foreign direct investment (FDI), and increasing the Omanisation (the replacement of expatriate workers with local ones) percentage of the market to 80%. The healthy growth of travel and tourism in 2008 along with the investment initiatives underway and the growing worldwide awareness of Oman’s tourism potential are just some of the indicators that the sultanate is on track with its Vision 2020.
The crisis takes its toll on Oman
As the global financial crisis struck in the second half of 2008, Oman was not immune. On the macroeconomic level, the government has released its approved 2009 budget highlighting a deficit of OR0.8 billion or around US$2.1 billion. In addition, Oman’s economic growth is expected to decline to three percent in 2009 as the crisis weighs. The travel and tourism industry posted lower growth in 2008; however, this decline does not fully capture the full effect on Oman, given the fact that Oman’s high season of arrivals – Muscat Festival and Khareef Salalah Festival – ended before the financial crisis took its toll on arrivals.
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