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Oman News

Oman’s tourism sector set for growth until 2028: Fitch Solutions forecasts optimism

Oman's tourism sector is set for a remarkable resurgence, with projections indicating a significant increase in visitor numbers until 2028.

TAS News Service

info@thearabianstories.com

Thursday, March 14, 2024

Muscat: With investments and partnerships fueling growth, alongside the introduction of new projects, Oman’s tourism landscape is undergoing a transformative evolution. From the allure of its diverse terrain to the allure of ship tourism and incentive travel, Oman is capitalizing on its unique offerings to attract travellers from around the world.

Key indicators underscore the sector’s upward trajectory, with a notable 11.5% growth rate and a surge in hotel occupancy rates reaching 49%. The influx of over 2 million guests and 14 million passengers passing through airports further highlights Oman’s growing appeal on the global tourism stage.

Fitch Solutions forecasts continued growth in tourist numbers, with the Middle East leading the charge, followed by Asian and European markets. The report by IBM Market Research, affiliated with Fitch Solutions, paints a promising picture, citing last year’s recovery in tourism flows as a strong foundation for sustained growth in the coming years.

The tourism sector’s revival aligns seamlessly with Oman’s broader economic diversification agenda, as outlined in Vision 2040. Ambitious targets aim to propel the growth rate to 5% by 2030 and 10% by 2040, positioning tourism as a cornerstone of Oman’s future prosperity.

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