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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

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    Egypt’s food industries contribute 24.5% of GDP

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    $36mln contract for construction of Duqm fisheries complex

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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      Madayn working on major Oman industrial city projects

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

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            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

            Trending Tags

            • CES 2017
            • Election Results
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          • Construction
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            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

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            • Energy
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              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Increased investment to boost Oman’s tourism sector

              OBG

              October 11, 2016
              in Hospitality
              0

              Oman is pressing ahead with a number of new developments in its tourism sector as part of a drive to diversify its economy amid a backdrop of sustained low global energy prices.

              By the numbers
              Tourism is one of the five key sectors identified in Vision 2020 – the sultanate’s national development strategy – to encourage economic growth, expand the services sector and build up the private sector.

              Under the plan, Oman aims to increase tourism’s contribution to GDP to 5% by 2020, up from a direct contribution of 2.5% of GDP last year, according to the World Travel and Tourism Council (WTTC).

              Oman’s tourism industry has grown steadily over the past five years, with inbound tourism averaging an increase of 9% per year since 2010, according to the WTTC. Last year, Oman received a record 2.6m tourists government figures showed.

              In July 2016 the National Centre for Statistics and Information (NCSI) reported that inbound visitors grew 27% year-on-year, with visitors from the Gulf accounting for over half of arrivals. For the period from January through to July, inbound arrivals reached 1.5m NCSI data showed, suggesting that Oman will surpass the 1.8m tourist arrivals predicted in the WTTC report for this year.

              MICE segment to drive growth
              In an attempt to further encourage growth in the tourism sector, Oman has identified the meetings, incentives, conferences and exhibitions (MICE) segment as one with significant potential.

              To this end, the first phase of the Oman Convention and Exhibition Centre (OCEC) opened in late September. The OCEC features a 22,000-sq-metre exhibition hall and a 12,000-sq-metre outdoor exhibition space. Phase two – which is expected to be completed in December of next year – will include an indoor theatre and several ballrooms.

              The OCEC is part of the first phase of the Madinat Al Irfan urban development project, spearheaded by the Oman Tourism Development Company (Omran), the government’s tourism investment arm. Located near the Muscat International Airport, the 7.4m-sq-metre Madinat Al Irfan project will offer hotels, residential developments, business parks, leisure areas and retail spaces, and is expected to be operational by 2017.

              Oman lies within seven hours flying time of around 50% of the world’s population, a geographical advantage that industry professionals in the sultanate hope to leverage, especially as Oman competes with other regional powerhouses that have long dominated the conference and exhibition space.

              Leisure segment on the rise
              Increased investment in the tourism sector is also targeting Oman’s leisure segment.

              One of the most recent projects is the development of the Mina Sultan Qaboos Waterfront, which aims to transform Port Sultan Qaboos – previously Muscat’s main commercial port – into a major tourist destination.

              The OR500m ($1.3m) mixed-use waterfront project will offer hotels and resorts, retail and residential areas, as well as entertainment and cultural areas, and is expected to provide 12,000 direct and 7000 indirect jobs.

              Also overseen by Omran, construction on the 101-ha site is set to begin in the second quarter of next year. The first phase of development is slated for completion by 2020 in time for events, such as Expo 2020 and the FIFA 2022 World Cup, which are being held in the region, according to a company release.

              Economic multiplier
              Meanwhile, industry stakeholders point to the knock-on benefits of the new projects.

              The potential for tourism development projects to contribute to the Omani economy goes beyond their direct benefits, according to Ahmed Dabbous, CEO of Muriya Tourism Development, a property developer focused on the leisure segment.

              “The economic multiplier effects of hotel and tourism developments are significant,” he told OBG. “Apart from job creation and infrastructure investment, we see significant engagement with small and medium-sized enterprises, as well as in the local economies where the projects are located.”

              According to a government prospectus from June, at least 39 major tourism projects are at some stage of design, construction or tendering across the country.
              Oxford Business Group
              11 October

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