Oman’s Tourism Industry Receives $11.3 Billion Boost from Oil Sector

Oman is set to boost its tourism industry with an impressive $11.3 billion cash injection. This move comes as part of the country’s strategic efforts to diversify its economy and explore new avenues for growth.

According to the Ministry of Heritage and Tourism, upcoming investments will be concentrated in the provinces of Muscat, Dhofar, South Al-Sharqiyah, South Al-Batinah, and Musandam. Additionally, the ministry will be issuing 19 licenses for the construction of new tourism complexes in these regions.

Undersecretary for Tourism, Azzan Qasim Al-Busaidi, described the initiative as a contemporary approach to tourism cities, where services and facilities are conveniently housed under one roof in the integrated tourism complexes.

The 19 projects will include 81 hotel facilities with a total of 16,576 rooms. As well as hotels, 2,552 apartment hotels and villas, and 42,617 housing units will also be included in the projects.

A number of facilities will accompany the complexes, including golf courses, harbours, restaurants, cafés and shops.

The ministry has also set aside $8.1 billion for other licensed projects that are currently in a pre-implementation phase.

Oman has taken several initiatives in a bid to boost its tourism industry in recent years, opening up a new airport in the capital in 2018, and signing a visa waiver with China in an attempt to attract more Chinese tourists.

The country has been keen to diversify its economy with oil reserves dwindling and a push in the Gulf region for a larger private sector.