Oman to see 23.5% growth in tourist arrivals
Visitors to touch 3.6 million by the end of this year
Published: 05:08 PM,Aug 23,2023 | EDITED : 09:08 PM,Aug 23,2023
MUSCAT: Fitch Solutions has predicted a 23.5-per cent growth in the number of tourists visiting the Sultanate of Oman this year. The fourth quarter report for 2023 issued by BMI, an economic solutions entity affiliated with Fitch Solutions, has revealed that analysts expect the number of visitors to Oman will touch 3.6 million by the end of this year.
The BMI report shows that the total number of international tourists arriving in Oman in 2023 is likely to reach 3.6 million, up by 23.5 per cent compared to that in 2022.
The Ministry of Heritage and Tourism has made a comprehensive plan to attract 11 million visitors annually by 2040. The plan includes having new tourism and heritage projects that may contribute in raising the volume of total investments in the sector.
The ministry has also emphasised that it closely monitors international indicators related to the tourism sector, which helps the ministry to understand market trends and analyse the performance of the tourism sector at the global level and its impact locally.
Bigger investments subsequently contribute to the development and strengthening of a country’s economic cycle.
In the tourism sector, the Sultanate of Oman achieved a growth rate of 31 per cent over the Middle East region during the second quarter of 2023, ahead of the United Arab Emirates, which achieved a growth of 29 per cent, and Jordan 7 per cent.
Fitch Solutions indicated that expectations indicate growth in the tourism sector in the medium term until 2027 in light of strong investments being pumped into new tourism projects, and the Tourism Strategy 2040 that is being implemented.
The report indicated that over the next 12 months, there remain some risks that may threaten the growth of the global tourism sector due to the state of uncertainty in the global economic environment. These risks include the consequences of rising commodity prices, food and fuel, energy price inflation and global geopolitical challenges.
According to the Ministry of Heritage and Tourism, it plans to attract investments to the tune of RO 3 billion for the period from 2021 to 2023, within the national programme for attracting investments.
The BMI report shows that the total number of international tourists arriving in Oman in 2023 is likely to reach 3.6 million, up by 23.5 per cent compared to that in 2022.
The Ministry of Heritage and Tourism has made a comprehensive plan to attract 11 million visitors annually by 2040. The plan includes having new tourism and heritage projects that may contribute in raising the volume of total investments in the sector.
The ministry has also emphasised that it closely monitors international indicators related to the tourism sector, which helps the ministry to understand market trends and analyse the performance of the tourism sector at the global level and its impact locally.
Bigger investments subsequently contribute to the development and strengthening of a country’s economic cycle.
In the tourism sector, the Sultanate of Oman achieved a growth rate of 31 per cent over the Middle East region during the second quarter of 2023, ahead of the United Arab Emirates, which achieved a growth of 29 per cent, and Jordan 7 per cent.
Fitch Solutions indicated that expectations indicate growth in the tourism sector in the medium term until 2027 in light of strong investments being pumped into new tourism projects, and the Tourism Strategy 2040 that is being implemented.
The report indicated that over the next 12 months, there remain some risks that may threaten the growth of the global tourism sector due to the state of uncertainty in the global economic environment. These risks include the consequences of rising commodity prices, food and fuel, energy price inflation and global geopolitical challenges.
According to the Ministry of Heritage and Tourism, it plans to attract investments to the tune of RO 3 billion for the period from 2021 to 2023, within the national programme for attracting investments.