High investment in tourism sector by 2025: Oman

High investment in tourism sector by 2025: Oman

The tourism sector is witnessing a significant growth with 363 projects, worth RO2.290bn, either established or to be developed by 2025.

The Ministry of Heritage and Tourism revealed the figures on Wednesday stating that it expects investments in the tourism sector to reach RO3bn by 2025 by attracting additional investments worth RO700mn. ‘There are indications of the possibility of exceeding the target early,’ it stated.

H E Salem bin Mohammad al Mahrouqi, Minister of Heritage and Tourism, said that the tourism sector is one of the sectors that can help achieve economic diversification and direct investments to maximise the potential of the sultanate as a leading tourism destination.

He informed that investment in the tourism sector also works in developing the economy of the governorates, through projects that keep pace with the comparative advantages of each governorate, in addition to the benefit of these projects to local communities and small and medium enterprises.

Integrated tourism complexes

H E Mahrouqi pointed out that integrated tourism complexes form the bulk of investments in the tourism sector. “Twelve integrated tourism complexes with an investment value of RO3.9bn are currently being implemented, of which RO1.07bn will be invested in the 2021-2025 period.”

These complexes include the Al Mouj project, Barr