Investment in Oman’s tourism sector to reach over $7bln by 2025

Investment in Oman’s tourism sector to reach over $7bln by 2025

Muscat: The total investments in Oman's heritage and tourism sector is expected to reach OMR3 billion for 2021-2025, the Ministry of Heritage and Tourism said.

Also, the number of hotel rooms in Oman is expected to reach 33,000 by the end of 2025, the ministry said adding that it aims to increase the share of the sector’s contribution to the gross domestic product (GDP) to OMR920 million, or 2.75 percent to 3 percent of GDP, by 2025. The contribution of the tourism sector to GDP, at constant prices in 2021 reached 2.4 percent, according to the statistical data issued by the NCSI.

This was stated by the Director of the Oman Vision 2040 Office at the Ministry of Heritage and Tourism (MHT). He said heritage and tourism sectors in the Sultanate of Oman has achieved high rates in their annual plans, which are consistent with Oman Vision 2040 objectives.

Oman Vision 2040 includes a number of targets in the tourism sector, including attracting investment, financial sustainability, and enhancing the contribution of the tourism sector to the labour market, Dr Rashid bin Saleh Al Hinai, Director of the Oman Vision 2040 Office at the Ministry of Heritage and Tourism said on Sunday. The work