Oman Tourism 2024: Record Growth Predictions from WTTC

Key Takeaways:

Oman’s tourism sector is projected to contribute OMR 3.3 billion to GDP and generate over 206,000 jobs in 2024.
Domestic visitor spending will grow to OMR 1.5 billion, surpassing pre-pandemic levels; international spending will also increase.
Government support, strategic investments, and WTTC forecasts anticipate continued sector growth, boosting Oman’s economy and job market significantly.

Oman Tourism 2024: Record Growth Predictions from WTTC

What Does the Future Hold for Oman’s Tourism Sector in 2024?

The World Travel and Tourism Council (WTTC) has released its 2024 Economic Impact Research (EIR), offering an optimistic outlook for Oman’s Travel & Tourism sector. Let’s delve into the key insights and what they mean for Oman.

How Will Oman’s Tourism Sector Impact the Economy in 2024?

According to the WTTC report, Oman’s tourism industry expects tremendous growth this year. The sector is set to contribute over OMR 3.3 billion to the country’s GDP in 2024, accounting for 7.6% of the total economy. Expanding tourism can provide a significant boost to Oman’s broader economic landscape, bringing newfound opportunities and employment.

The growth isn’t limited to GDP. Employment in the tourism sector is also projected to rise, providing over 206,000 jobs nationwide. This means one in every fourteen people in Oman will be employed within the tourism industry, underscoring its vital role in job creation.

Will Visitor Spending in Oman Surpass Pre-Pandemic Levels?

Visitor spending is a crucial metric for tourism health. The WTTC forecasts that domestic visitor spending will grow to OMR 1.5 billion in 2024, exceeding the 2019 figure by nearly eight percent. This rebound shows a strong recovery from the pandemic, signaling increased confidence and interest from local tourists.

While international visitor spending might not completely return to pre-pandemic levels—falling short of 2019 figures by OMR 142.3 million—it is expected to keep growing throughout 2024. This positive trend illustrates the enduring appeal of Oman to international travelers, despite global challenges.

How Is Oman’s Government Supporting Tourism?

Julia Simpson, WTTC President & CEO, highlighted the pivotal role of the Omani government:

“The Oman Government strongly supports Travel & Tourism and aims to achieve unprecedented economic growth and job creation.”

The WTTC’s findings point to strategic government investments and policies that bolster Oman’s reputation as a top Middle Eastern tourist destination. These efforts have laid a solid foundation for anticipated growth.

For more details, you can visit the official Oman tourism website for information on ongoing and upcoming governmental initiatives to support the sector.

What Were the Key Achievements in 2023?

In 2023, the contributions of national tourists saw significant increases compared to 2022. Oman’s tourism sector contributed nearly OMR 2.8 billion to the GDP—a rise of 35 percent from the previous year. Employment in tourism also saw a 15 percent increase, supporting around 191,500 jobs nationwide.

International tourists played a large part in this growth, with their spending reaching OMR 1.1 billion, marking a 69 percent increase from 2022. At the same time, domestic tourism bounced back robustly, with spending reaching OMR 1.4 billion.

What Are the Long-Term Projections for Oman’s Tourism Sector?

Looking ahead, WTTC forecasts that by 2034, Oman’s tourism sector will support over 265,600 jobs nationwide. The sector will contribute OMR 5.4 billion to the national GDP, making up 9.8% of the economy. This growth reflects increasing investments and efforts to sustain a thriving tourism industry.

What Is the Broader Middle Eastern Tourism Outlook for 2024?

Oman’s progress fits into a broader regional context of expanding tourism. Last year, the Middle Eastern Travel and Tourism sector grew over 25%, reaching nearly $460 billion. Employment rose to almost 7.75 million, and international spending increased by 50% to $179.8 billion. Domestic visitor spending also grew by 16.5%, surpassing $205 billion.

For 2024, the WTTC anticipates continued growth in the region, with the GDP contribution expected to rise to $507 billion. Employment is projected to increase to 8.3 million, with international visitor spending expected to reach $198 billion and domestic spending anticipated to exceed $224 billion.

Conclusion

Oman’s tourism sector is on the brink of historic growth, driven by strategic investments and strong support from the government. With predictions of significant GDP contributions and job creation, the future looks bright. The developments in local and international visitor spending further underscore the sector’s resilience and potential. For travelers and investors alike, Oman presents a promising destination with ample opportunities on the horizon.

Whether you’re planning your next trip or considering investment opportunities, keep an eye on Oman’s dynamic tourism landscape in 2024.

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Glossary or Definitions

GDP (Gross Domestic Product): A monetary measure of the market value of all final goods and services produced in a country during a specific period, usually annually. In the context of tourism, GDP is used to quantify the economic contribution of the tourism sector to the overall economy, indicating its significance in generating revenue and providing employment opportunities.
WTTC (World Travel and Tourism Council): An international organization representing the Travel & Tourism private sector globally. The WTTC conducts research and analysis to assess the economic impact of the tourism industry, providing valuable insights into the sector’s growth, challenges, and opportunities in various countries, including Oman.
Job Creation: The process of generating new employment opportunities within a specific industry or sector of the economy. In the context of Oman’s tourism sector, job creation refers to the increasing number of jobs being offered in areas such as hospitality, travel services, and related fields due to the growth and development of tourism activities in the country.
Visitor Spending: The total amount of money spent by tourists, both domestic and international, on goods, services, accommodations, transportation, and other tourism-related activities in a specific destination. Monitoring visitor spending is essential for assessing the economic health and viability of the tourism sector, indicating the level of tourist engagement and financial contribution to the local economy.
Government Support: Refers to the various initiatives, policies, and investments made by the government to promote and sustain the growth of a specific industry or sector, such as tourism. In the case of Oman, government support for the tourism sector plays a crucial role in attracting tourists, creating jobs, and enhancing the overall competitiveness of the country as a tourist destination.

This Article In A Nutshell:

The World Travel and Tourism Council projects a bright future for Oman’s tourism in 2024. With increasing GDP contributions, job opportunities, and growing visitor spending, the sector is set for significant growth. Supported by government initiatives, Oman aims to become a top destination in the Middle East, offering ample opportunities.
— By VisaVerge.com