Oman’s tourism sector generated over $5.51 billion in 2024, rising from $4.55 billion in 2018, according to official data. This reflects a compound annual growth rate (CAGR) of 3.2%, underscoring the sector’s growing contribution to the sultanate’s economic diversification strategy.
The tourism industry’s overall contribution to GDP also increased, reaching $7.02 billion in 2024, compared to $5.98 billion in 2018, according to figures reported by the Oman News Agency (ONA).
European tourists played a significant role in boosting Oman’s hospitality sector, helping drive a 10.2% increase in hotel revenues during the first five months of 2024, as per data from the National Center for Statistics and Information (NCSI). This reflects Oman’s broader approach to diversifying its tourism base and enhancing the hospitality sector’s performance, in line with regional trends across the Gulf Cooperation Council (GCC).
The Minister of Heritage and Tourism noted that the positive growth in visitor numbers, spending, and economic impact stems from targeted efforts to promote Oman as a diverse tourism destination. He credited government policies, effective inter-agency collaboration, and support for investment as key drivers of this growth.
The ministry is also pursuing innovative marketing campaigns, strengthening private-sector partnerships, and enhancing tourism offerings to improve visitor experiences.
Oman’s Economy Projected to Grow by 2.2% in 2025
Oman’s GDP is forecast to grow by 2.2% in 2025, up from an estimated 1.7% in 2024, driven by a rebound in oil activities and steady growth in non-oil sectors, according to the Ministry of Economy’s economic outlook.
Inflation is projected to rise modestly to 1.3% in 2025 from 0.6% in 2024, remaining within the targets of Oman’s 10th Five-Year Plan, supported by government subsidies and stable global commodity prices.
GDP at constant prices is expected to increase from $99.58 billion in 2024 to $101.92 billion in 2025. Oil activities are projected to recover with a 1.3% growth following a 3% contraction in 2024, while non-oil sectors are set to expand by 2.7%.
The medium-term outlook remains positive, with continued momentum expected through 2026 and 2027, driven by strategic projects and increased oil output, according to ONA.
Source: Arab News
