Tag Archives: OMR 5.4bn

The global tourism body is forecasting that the sector will grow its GDP contribution to more than OMR 3.3BN in 2024, 7.6% of the country’s economy, and is projected to employ more than 206,000 people across the country, with one in fourteen people working in the sector. Domestic visitor spending is predicted to continue growing, to reach OMR 1.5BN, beating the 2019 level by just over 8%. Although international visitor spending is forecast to still be behind 2019 levels by OMR 142.3MN, it is expected to continue growing through 2024.  The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) unveiled a promising future for Oman’s Travel & Tourism sector. With strong government support and strategic initiatives, the sector is poised to not only recover but to reach unprecedented heights this year. According to the global tourism body’s latest research, in 2023 the Travel & Tourism sector’s GDP contribution surged by almost 35%, totalling OMR 2.8BN, and is on track to surpass previous records. The sector witnessed a robust job growth of 15%, now employing 191,500 individuals nationwide. Last year, international visitors injected OMR 1.1BN into the economy, a remarkable 69% increase from 2022, while spending by domestic travellers rebounded to OMR 1.4BN. Oman’s status as a top tourist destination in the Middle East is clearer than ever, thanks to strategic government investment and support. These efforts are not only rejuvenating the economy but are also setting the stage for further increases in international travel spending and overall economic contribution from the sector. Julia Simpson, WTTC President & CEO, said; “Oman’s Travel & Tourism sector is on the cusp of an historic revival in 2024. “The Oman Government is a strong support of Travel …

Read More »