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Observer
4 days ago
- Business
- Observer
Oman's tourism sector contributes over RO2 billion in 2024
Muscat: The tourism sector's contribution to the national economy rose to RO2.12 billion by the end of 2024, compared to RO1.75 billion in 2018, representing a growth rate of 3.2 percent, according to the latest data released by the National Center for Statistics and Information. The sector's contribution to the gross domestic product (GDP) rose to RO2.7 billion, compared to RO2.3 billion in 2018, reflecting the overall impact of tourism as an engine of growth. Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism (MHT), said that the positive indicators achieved by the tourism sector in 2024, such as the increase in visitors to the country, are the result of government policies supporting economic diversification, as well as integration with various government agencies, which has played a key role in creating an attractive investment and accelerating the pace of delivery of tourism projects. He underlined the Ministry's commitment to adopting innovative promotional policies, expanding partnerships with the private sector, and developing tourism products and services to meet visitor aspirations and enhance the tourist experience. Spending Total spending on tourism in the Sultanate of Oman rose to RO1.02 billion in 2024, compared to RO960 million in 2018. Direct value added by the tourism grew by 5.3 percent, RO1.09 billion, compared to RO799.7 million in 2018, and it demonstrated the integration with sectors such as transportation, hospitality, retail, and culture. Incoming visitors The Sultanate of Oman received around 3.8 million visitors in 2024, of which 68.2 percent were overnight visitors and 31.8 percent were same-day visitors. Total tourism spending by these visitors amounted to RO989 million, with an average per capita expenditure of RO253.8. Need for facilitating travel between Gulf countries The data showed that more than 55 percent of incoming visitors were residents of the United Arab Emirates, underscoring the importance of enhancing land connectivity and facilitating travel between Gulf countries. International visitors European visitors accounted for 16 percent of the total visitors, compared to Asian nationalities (13.2 percent), indicating the effectiveness of the promotional campaigns launched by the Ministry in cooperation with overseas offices. Lesiure destination As for reasons for coming to the Sultanate of Oman, Leisure topped the list with 70.2 percent, followed by visiting relatives and friends (17.9 percent), and shopping (5 percent). The average length of stay ranged between 5 and 6 nights, with a total of 14.8 million tourist nights, confirming the ability of destinations in Oman to attract visitors for longer periods. Regarding accommodation patterns, hotel establishments have witnessed a growth in demand, enhancing the feasibility of investing in tourism facilities, particularly in governorates witnessing development in the tourism infrastructure, such as Dhofar, Musandam, and Al Dakhiliyah. The number of outgoing visitors was 8.1 million, spending a total of RO1.8 billion, with an average per capita expenditure of RO218.5. This reflects the volume of domestic spending on outbound tourism and opens the way for developing initiatives to enhance tourism.
Observer
19-05-2025
- Business
- Observer
Real estate conference opens with RO 2.3 bn deals
Muscat, May 19 Under the auspices of HH Sayyid Bilarab bin Haitham al Said, Honorary President of the 'Programme of Promising Omani Startups', the 20th edition of the Oman Real Estate Conference and Exhibition officially kicked off on Monday. The event is taking place until May 24 at the Oman Convention and Exhibition Centre, organised by the Ministry of Housing and Urban Planning in cooperation with the Oman Real Estate Association and Connect Company. The national platform brings together local and international investors, real estate developers, and experts to showcase major projects, highlight promising investment opportunities, and build effective partnerships between the public and private sectors in line with Oman's efforts to enhance the business environment and support sustainable urban growth while the accompanying exhibition offers potential buyers the chance to explore a diverse range of residential units and real estate projects presented by leading developers. On the opening day, two major projects were unveiled, marking significant additions to Oman's urban development landscape. The first project is the launch of Al Thuraya City in the Wilayat of Baushar as a smart city, and the first phase includes more than 2,600 housing units distributed across eight integrated neighbourhoods, accommodating more than 8,000 people. At an altitude of 2,400 metres above sea level, the Al Jabal Al Aali Project was launched as a unique global mountain destination. It spans an area of 11.8 square kilometres and includes three main villages accommodating more than 10,000 people. As part of the conference's opening, nine partnership and development agreements worth over RO2.3 billion were signed. These include major development projects in Sultan Haitham City and Al Thuraya City, expanding Oman's urban growth map and opening new horizons for real estate investment. KEY AGREEMENTS Two major real estate and tourism development agreements were signed with Talaat Moustafa Group worth over RO1.7 billion to develop districts (7), (8), (9), (11), (12A), and (12B) in Sultan Haitham City on more than 2.6 million square metres. The project includes various residential units such as villas, apartments, and mixed-use buildings, alongside integrated services including mosques, parks, green spaces and a social and sports club. A tourism project in Al Seeb covering over 2.2 million square metres, featuring a hotel, residential areas with waterfront views, artificial lakes and a marina, adding significant value to Oman's tourism sector. A development agreement worth over RO 150 million with Idraak Real Estate Development Company to develop districts (6C) and (6D) in Sultan Haitham City, in addition to awarding a site preparation tender for Package (1A) worth over RO 6 million. A new hotel project in collaboration with the global LUX Collection brand, valued at RO 45 million, to develop the first 4-star hotel complex in Sultan Haitham City's January Residences. An usufruct agreement worth RO 2 million was signed with Al Siyabi Group to establish a precast concrete factory in Halban, Barka. This project is expected to reduce construction time by 40 per cent compared to traditional methods and support local employment. An agreement worth over RO 240 million was signed to develop District (6) in Al Thuraya City, covering 285,000 square metres and including 1,000 residential units. Two tenders worth RO 13 million were also awarded for site preparation and engineering consultancy services. Additionally, an international competition was announced for the design of the city's third phase, aimed at making it a hub for adventure and mountain sports. An agreement worth RO 200 million was signed to develop the Health District in the western village, covering 630,000 square metres and offering 500 residential and hotel units, reinforcing Al Jabal Al Aali position as a destination for health and eco-tourism. On the sidelines of the conference, 23 agreements were signed with service providers to implement infrastructure for eight projects under the 'Sorouh' initiative, covering water, electricity, and telecom networks. Eight new investment opportunities were announced in Al Batinah South, Al Sharqiyah South, Dhofar, Muscat and Al Dakhiliya
