Oman Tourism Industry Set to Achieve 8% Growth

According to experts, Oman’s tourism industry is poised for an annual growth rate of between 6 and 8 per cent until 2017. Experts gathered at the regional briefing on Oman organised by the Arabian Hotel Investment Conference highlighted a serious commitment from the government and private investors to expand the sultanate as a vibrant tourism destination.

Filippo Sona, director and head of hotels in Mena for Colliers International, said, “The majority of economy hotels in Oman are either locally branded or unbranded, many of which are not purpose built and of a limited size. Due to the fragmented nature of the market, hotel apartments and guest houses tend to compete with the economy hotel market, as there is a lack of differentiation between the two products from a consumer standpoint.”

Philip Wooller, area director for the Middle East and Africa of STR Global presented a look at hotel performance indicators and the development pipeline at the conference, highlighting planned global and regional developments and then zoned in on Oman.

There has been an influx of large-scale projects such as The Wave, Imagine Project, Muscat Plaza, and the Seeb Seafront in Muscat, which will act as catalysts to stimulate inbound demand. AHIC 2014 is planned to take palce at the Madinat Jumeirah from May 4 to 5, to connect business leaders from international and local markets and act as the industry’s annual intelligence update.