Oman’s tourism sector is experiencing a transformative period, as the country intensifies efforts to diversify its economy in line with Oman Vision 2040. With major investments announced in 2024 and significant growth in both domestic and international tourism, the sultanate is positioning itself as a leading destination in the Middle East. In coordination with Oman Investment Authority and Omran Group, Ministry of Heritage and Tourism has set ambitious goals to develop the nation’s tourism infrastructure.
State-owned tourism development company Omran has announced plans to invest US$3bn over the next five years in strategic tourism projects. This investment is aligned with Oman Vision 2040’s objectives of economic diversification and sustainable tourism growth. “We are committed to developing sustainable tourism destinations that enhance Oman’s global profile,” stated Hashil al Mahrouqi, CEO of Omran Group.
He noted that the investment aims to propel economic growth and attract more international visitors. By 2034, Oman’s tourism sector is expected to contribute over RO5.4bn to the economy, representing 9.
8% of the GDP, and employ more than 265,000 people, with one in 13 residents working in the sector. Omran has also succeeded in attracting almost US$2bn in foreign investments for various projects. These funds will support the construction of luxury resorts, eco-friendly developments and infrastructure improvements, which will further position Oman as a premie.
