Tourism sector poised for growth until 2028

Tourism sector poised for growth until 2028

Staff ReporterMuscat, March 14Oman's tourism sector is set for giant strides, with projections indicating a significant increase in visitor numbers until 2028, according to international market research company Fitch Solutions.The forecast is in line with Oman's aim to raise the growth rate in the tourism sector to 5 per cent by 2030 and to 10 per cent by 2040. Key indicators underscore the sector’s upward trajectory, with a notable 11.5 per cent growth rate and a surge in hotel occupancy rates reaching 49 per cent. The influx of over 2 million tourists and 14 million passengers passing through airports further highlights Oman’s growing appeal on the global tourism stage.Fitch Solutions forecasts continued growth in tourist numbers, with the Middle East leading the charge, followed by Asian and European markets. The report by IBM Market Research, affiliated with Fitch Solutions, paints a promising picture, citing last year’s recovery in tourism flows as a strong foundation for sustained growth in the coming years.This optimistic prospects of the tourism sector in the Sultanate of Oman comes as an extension of the positive expectations issued by Fitch Solutions in its report last year, in which it indicated that growth expectations in the tourism sector