Oman’s Tourism Boom, A Catalyst for Economic Growth and Foreign Exploration
Oman’s tourism sector experienced a remarkable resurgence in 2022, with a 47.3% increase in income, soaring to RO1.9 billion. Domestic tourism contributed a substantial 68% to the sector’s income. Inbound tourism also surged, welcoming 2.9 million visitors, a 348% increase from the previous year. This influx of travellers brought diverse purposes, with leisure and recreation leading at 43.5%. Meanwhile, an unexpected surge in outbound tourism saw 5.2 million Omanis exploring international destinations, significantly impacting Oman’s tourism balance and underscoring the nation’s growing economic narrative.
Back to the future: 2020s to echo roaring 20s or inflationary 70s?
The 2020s have only just begun but there is already a rush to draw parallels with the past, prompted by a belief that COVID-19 will mark a turning point for the world economy and financial markets.
