Latest news with #OmaniEconomicAssociation
Muscat Daily
25-02-2025
- Business
- Muscat Daily
Oman tourism gets RO2.4bn investment boost
Muscat – The tourism sector has witnessed remarkable growth with investments reaching approximately RO2.4bn by the end of 2024. As part of its economic diversification strategy, the government aims to raise the sector's contribution to 5.9% of the nation's GDP by 2040. Progress was discussed during the 24th dialogue session on Tuesday hosted by Omani Economic Association, where industry leaders examined opportunities, challenges and strategies for sustainable tourism development. H E Azzan bin Qasim al Busaidi, Undersecretary for Tourism in Ministry of Heritage and Tourism, said the sector has fully recovered from the effects of COVID-19 with key tourism indicators now surpassing pre-pandemic levels. He informed that Oman now has around 1,000 hotel facilities, signalling robust sector expansion. However, financial challenges persist for private tourism enterprises due to the lasting impact of the pandemic. H E Busaidi also noted the ministry's efforts to regulate over 1,500 unlicensed accommodation facilities currently operating in the market. In a move to attract more international visitors, Oman has reopened its tourism representative office in China, tapping into a rapidly expanding market. Several major tourism development projects are also underway, including initiatives in Jabal Abyad, Ras al Hadd, Muttrah corniche, the sand dunes of North Sharqiyah and South Sharqiyah, and Jabal Akhdar. Dr Khalid bin Saeed al Amri, Chairman of Omani Economic Association, emphasised tourism's growing contribution to national revenue and its central role in economic diversification. Ministry of Heritage and Tourism has set ambitious goals for 2025, including increasing tourism's contribution to the GDP to 2.75% at constant prices, attracting RO3bn in investments between 2021 and 2025, and expanding Oman's hotel capacity to 33,000 rooms by the end of 2025. The dialogue reaffirmed the importance of strong public-private partnership in driving tourism growth. By addressing challenges and leveraging new opportunities, Oman aims to position itself as a leading global tourist destination while supporting sustainable economic growth and increasing international visitor numbers.
Observer
25-02-2025
- Business
- Observer
MHT to redesign, transform major tourist destinations
Muscat: Tourism has fully recovered from the repercussions of the pandemic, but the private sector is still dealing with issues such as financial debt that was incurred around that time. Azzan bin Qasim al Busaidi, Undersecretary of the Ministry of Heritage and Tourism for Tourism, while speaking at the Omani Economic Association's dialogue session at the Cultural Club in Qurm added that the new projects by the ministry for this year include the transformation of the White Mountain ranges, Ras al Hadd, the Muttrah Waterfront Road, dunes in the North and South al Sharqiyah Governorates, Al Jabal Al Akhdar, the coastal road between Quriyat and Sur apart from the development of the Ibri Cave. He said the number of hotel facilities was around 1,000 facilities at the end of 2024, the volume of investments in the tourism sector has been around RO2.4 billion, and added that there are more than 1,500 establishments that practice the activity of accommodation and operate without a license and the ministry have been correcting the statues of these establishments. The Sultanate of Oman has reopened the tourism representative office in China to target Chinese tourists The government seeks to raise the contribution of the tourism sector to 5.9% of the GDP by 2040, which will also help contribute to enhancing economic diversification and providing more job opportunities for young people in the tourism, hotel and hospitality sectors, and other related sectors. The Ministry of Heritage and Tourism hopes to contribute around 2.75% to the GDP at constant prices in 2025 with investments of RO3 billion for the period from 2021 to 2025, and the number of hotel rooms on offer will be 33,000 hotel rooms by the end of the year.
Zawya
25-02-2025
- Business
- Zawya
Oman: MHT to redesign, transform major tourist destinations
Muscat: Tourism has fully recovered from the repercussions of the pandemic, but the private sector is still dealing with issues such as financial debt that was incurred around that time. Azzan bin Qasim al Busaidi, Undersecretary of the Ministry of Heritage and Tourism for Tourism, while speaking at the Omani Economic Association's dialogue session at the Cultural Club in Qurm added that the new projects by the ministry for this year include the transformation of the White Mountain ranges, Ras al Hadd, the Muttrah Waterfront Road, dunes in the North and South al Sharqiyah Governorates, Al Jabal Al Akhdar, the coastal road between Quriyat and Sur apart from the development of the Ibri Cave. He said the number of hotel facilities was around 1,000 facilities at the end of 2024, the volume of investments in the tourism sector has been around RO2.4 billion, and added that there are more than 1,500 establishments that practice the activity of accommodation and operate without a license and the ministry have been correcting the statues of these establishments. The Sultanate of Oman has reopened the tourism representative office in China to target Chinese tourists The government seeks to raise the contribution of the tourism sector to 5.9% of the GDP by 2040, which will also help contribute to enhancing economic diversification and providing more job opportunities for young people in the tourism, hotel and hospitality sectors, and other related sectors. The Ministry of Heritage and Tourism hopes to contribute around 2.75% to the GDP at constant prices in 2025 with investments of RO3 billion for the period from 2021 to 2025, and the number of hotel rooms on offer will be 33,000 hotel rooms by the end of the year. Observer Web Team
Zawya
10-02-2025
- Business
- Zawya
GCC nations to invest $100bln in renewable energy by 2030
Muscat – Gulf nations have announced plans to invest US$100bn in renewable energy by 2030, aiming to cut emissions by up to 20% as part of their transition to sustainable energy. The announcement was made at the 43rd meeting on 'Future Climate Change Management and Economic Development in the Gulf States', which concluded in Muscat on Saturday and was attended by energy and environment experts from GCC countries. The Gulf Cooperation Council (GCC) nations, which produce around 25% of global oil, also contribute significantly to carbon emissions, accounting for approximately 1.5bn tonnes of CO2 in 2022, or 4% of global emissions. However, the countries are among the most at risk from climate change impacts, including rising temperatures, water scarcity, and sea level rise. Projections indicate that Gulf temperatures could rise by up to 2.5°C by the end of the century, intensifying challenges like droughts and dust storms. Dr Khalid bin Saeed al Amri, Chairman of the Omani Economic Association, highlighted the economic consequences of climate inaction. 'Global economic losses from climate-related disasters reached nearly US$270bn in 2022. In the Gulf region, failure to adopt effective climate measures could result in losses of up to 5% of GDP by 2050,' he said. Despite these risks, the Gulf states see an opportunity to lead the transition to a green economy. Amri added that the US$100bn renewable energy investment would position the GCC nations as key players in global sustainability efforts. 'This transition focuses on adopting clean energy sources such as renewables, nuclear energy, and hydrogen, alongside fulfilling commitments to international climate agreements like the COP summits.' The two-day meeting, organised by the Omani Economic Association in collaboration with the Gulf Development Forum, also addressed the policies and technologies needed to overcome the challenges of energy transformation. Sessions covered topics such as climate mitigation strategies, behavioural science's role in climate action, and the evolving global climate framework. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
08-02-2025
- Business
- Muscat Daily
GCC nations to invest $100bn in renewable energy by 2030
Muscat – Gulf nations have announced plans to invest US$100bn in renewable energy by 2030, aiming to cut emissions by up to 20% as part of their transition to sustainable energy. The announcement was made at the 43rd meeting on 'Future Climate Change Management and Economic Development in the Gulf States', which concluded in Muscat on Saturday and was attended by energy and environment experts from GCC countries. The Gulf Cooperation Council (GCC) nations, which produce around 25% of global oil, also contribute significantly to carbon emissions, accounting for approximately 1.5bn tonnes of CO2 in 2022, or 4% of global emissions. However, the countries are among the most at risk from climate change impacts, including rising temperatures, water scarcity, and sea level rise. Projections indicate that Gulf temperatures could rise by up to 2.5°C by the end of the century, intensifying challenges like droughts and dust storms. Dr Khalid bin Saeed al Amri, Chairman of the Omani Economic Association, highlighted the economic consequences of climate inaction. 'Global economic losses from climate-related disasters reached nearly US$270bn in 2022. In the Gulf region, failure to adopt effective climate measures could result in losses of up to 5% of GDP by 2050,' he said. Despite these risks, the Gulf states see an opportunity to lead the transition to a green economy. Amri added that the US$100bn renewable energy investment would position the GCC nations as key players in global sustainability efforts. 'This transition focuses on adopting clean energy sources such as renewables, nuclear energy, and hydrogen, alongside fulfilling commitments to international climate agreements like the COP summits.' The two-day meeting, organised by the Omani Economic Association in collaboration with the Gulf Development Forum, also addressed the policies and technologies needed to overcome the challenges of energy transformation. Sessions covered topics such as climate mitigation strategies, behavioural science's role in climate action, and the evolving global climate framework.
