The increasingly prominent role of tourism has played a significant role in driving Oman’s long-term economic development and the country is set to attract tourism with investment in the hospitality projected at around $50 billion in the coming two decades.
There will be 12 per cent of the government’s share in the investment and the remaining 88 percent will come from the private sector as per the Chief Executive Officer of Omran-the tourism investment and development arm of the government.
Peter Walichnowski stated that the projected investment a part of the Tourism 2040 Strategy, is targeted at achieving three main objectives: boosting tourist arrivals into the country, building up the nation’s tourism sector, and generating employment for Omanis in the industry.
The target is to get 11.5 million people here by 2040 in terms of visitation and this will include 5 million international visitors.
Considering the tourism infrastructure development the focus will be airport construction.
There was a recent opening of the new Muscat Airport, the Oman Convention and Exhibition Centre in terms of MICE tourism.
Hotel infrastructure needs more work to be done with the target is to achieve 14 million room nights by 2040, which will require 80,000 new units.
This will be inclusive of 33,000 hotel rooms, 17,000 serviced apartments and 30,000 second homes mentioned the CEO.
As per the Tourism Ministry it has the application of 81 new hotels and a lot of investors are looking at the hotel sector for investment.
Tourism 2040 Strategy is ambitious targeting employment generation and the goal is to further employ 500,000 individuals in the sector by 2040, up from around 150,000 presently.
The target is to get more Small and Medium Enterprises (SMEs) in the tourism sector to drive the growth. The government is relying on the private sector in terms of capital and investment , infrastructure, development and services and further employment of the people in SMEs.
Omran is completely government-owned and has under its banner substantial number of hotels and resorts in the Sultanate.