Tourism industry in Oman set to receive investments of $1.17 billion by 2026

A Monitor Desk Report 28 Feb, 2017 | 3049 Views|-+
Dhaka: Investment in Oman’s tourism sector set to hit $1.17 billion by 2026, according to the World Travel and Tourism Council (WTTC).The total contribution of travel and tourism in the sultanate is also set to rise to $785 million over the same period, the WTTC said.

Oman will showcase its tourism infrastructure pipeline at Arabian Travel Market (ATM) in Dubai in April as visitor numbers in the first 10 months of 2016 grew to reach 2.5 million, representing a year-on-year increase of 15 percent.

To cope with the projected increased demand, hotel supply in Oman increased by 2,022 keys in 2016, although occupancy rates were down 11% over that period, largely due to lower oil prices, which subdued business travel, as well as the effect that weaker currencies had on the UK and EU leisure markets.

However, this is expected to recover by 3% through 2017, said Simon Press, senior exhibition director, ATM.

“It is no wonder that Oman is so popular and was recently named as one of the top ten places to visit in 2017 by a selection of the world’s top media,” he said.

“The country boasts a fantastic mix of culture, history and adventure for travelers, while the $120 million Majarat Oman futuristic theme park, set to open in 2017, will add to the huge selection of options available for families.”

According to the latest data from STR, Oman currently has 15,843 hotels, with another 6,347 rooms in the pipeline, representing growth of 40.1%.

Press added: “Oman’s tourism industry continues to grow and its offering keeps expanding to cater for the diverse needs of today’s travellers. Experiential tourism is the spotlight theme of ATM 2017 and this is central to the whole tourism experience in Oman.”

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