Now Available: Oman Tourism Report Q4 2014

From: Fast Market Research, Inc.
Published: Wed Nov 19 2014

The Oman Tourism Report explores the investment potential Oman offers to large tourist industries, particularly global hotel groups, as they seek to maximise the growth opportunities in the local market.

This quarter, BMI has slightly revised up its medium-term forecasts for Omani tourism arrivals, now targeting 1.39mn arrivals by end-2018. This reflects our continued confidence in the ability of the sultanate to attract new tourists. At the same time, we have also revised up our forecasts for international tourism revenues, which we expect to grow by 28.8%, to reach USD2.64bn by end-2018. This will reflect both higher visitor numbers entering the country and slightly higher spend per capita.

There are several reasons behind our optimistic stance towards Omani tourism over the medium term. For one, the government continues to promote tourism as one of the key sectors that will drive its economic diversification strategy away from a reliance on hydrocarbons. It has also started to take a more active role, managing the development of the industry and attempting to attract foreign investment. The creation of Omran, a state-run company established by the government in 2005 to develop major projects and manage assets and investment across the sector, was an illustration of the government's assertive approach to boosting investment in tourism.

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Recent passenger data from Oman's two main airports also back up BMI's continued optimism towards Omani tourism at the present time. Over H114, there was further growth in passenger traffic at both airports, boding well for BMI's target of 5% growth this year to be reached. Total passenger traffic (including transit and transfer passengers) through Muscat rose by 7% year-on-year (y-o-y), to 4,431,193 passengers, as reported by the Times of Oman. At Salalah, there was a 16% increase in passenger traffic, to 386,078.

In terms of the top 10 most important source markets for Oman, India remains by far the largest provider of...

The Oman Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Oman Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Omani tourism industry.

Key Benefits

* Benchmark BMI's independent tourism industry forecasts for Oman to test other views - a key input for successful budgetary and planning in the Omani tourism market.

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