As a politically stable country in the Middle East, Oman is building tourism momentum
Healy Consultants Group PLC
21 February, 2017
Despite being neighbor to many politically and religiously unstable countries, Oman represents an oasis of hope for the region. Tolerant to foreigners and other cultures, the Sultanate plans of becoming the next Dubai in terms of attracting tourism and consequently investments.
To keep up with its competitors, the Sultanate targets a total investment plan to fund its tourism industry with more than 1.17 billion USD before the end of the next decade (by 2026). Despite being a small country, Oman managed to attract more than 2 million visitors in 2016, marking a remarkable increase by 15% since the previous tourist season. Furthermore, airport arrivals have increased significantly, with more than 17%, proving that Muscat's International Airport is becoming a preferred gateway for air travel in the region.
Resent report by Colliers International (a real estate global conglomerate) confirmed that: "Although Oman faces significant competition other popular regional destinations, the Sultanate has been able to distinguish itself as a unique tourism destination, being home to many eco, cultural and heritage attractions."
Oman is a home to an expat community of more than 40% of its total population making it a prime destination for visitors from the expat home counties, mainly UK, EU and USA. Furthermore, the bilateral treaty between the country and the US allows American investors equal rights as local Omani nationals. As a result, US corporations and individuals can setup fully foreign owned companies without requirements of 30% local shareholding, which is a rare sight in the Middle East.
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