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Oman expects to earn more than 9 billion rials ($22.5 billion) every year from tourism by 2040

Tuesday, December 14, 2021

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Oman expects to earn more than 9 billion rials ($22.5 billion) a year from tourism by 2040 in its move to branch out its economy from oil income.


At the Oman-Saudi Arabia Tourism Investment Meeting on Sunday, the sultanate’s Tourism Undersecretary said that plans are already being made to set up a bunch of tourism investments nationwide.


“Before the pandemic started, Oman earned about 1.2 billion rials from tourism in 2019. We are now well on the way to reach the target of earning about 9 billion rials a year by the year 2040 from tourism,” said Maitha Al Mahrouqi, Undersecretary of Tourism in the Ministry of Heritage and Tourism.


Al Mahrouqichaired a joint meeting between Oman and Saudi Arabia to improve tourism investment between the two countries.


One of the major aims of Oman 2040 Economic Vision is to increase revenue from tourism. In 2019, Oman welcomed about 3.2 million tourists, increasing 12 per cent from the previous year.


“We are already implementing plans to set up theme parks, nature tourism, water parks and entertainment centres in different parts of the country. We are not only tapping on international tourists but regional tourism as well and Saudi Arabia is a major part of that within the GCC countries,” Ms Al Mahrouqi said.


She said that Oman is interested to attract investment from Saudi Arabia in tourism.


Saudi Arabia will invest in oil and gas, tourism, green energy, the maritime sector – including ports – overland logistics, telecommunications as well as an industrial zone.

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