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Oman to invest $31 billion to boost tourism sector by 2040

The sultanate received 4 million visitors in 2023

Oman to invest $31 billion to boost tourism sector by 2040
[Source photo: Anvita Gupta/Fast Company Middle East]

Tourism is one of the biggest contributors to Oman’s economy, accounting for over 10% of the country’s GDP. As the country looks to diversify its economy, it has been injecting investment into the industry. In 2023, the Gulf state welcomed four million visitors, an increase from 2.9 million in 2022, a rise of almost 38%.  

Now, Oman plans to invest $31 billion by 2040 to boost the sector.

At the ITB Berlin event, an official host country is designated every year, with Oman being the host country for the 2024 edition, Azzan Qassim Al Busaidi, Undersecretary of the Ministry of Heritage and Tourism for Tourism in Oman, discussed the government’s intention to boost investment to drive tourism. 

He added that the Ministry of Heritage and Culture will focus on creating an environment where tourism can flourish and grow. This will be achieved through streamlining visa application processes, easing visa restrictions for citizens of over 100 countries, and investing in infrastructure and attractions.

“We have ambitious plans for our tourism sector, with over $5.9 billion of investment currently funneled into more than 360 projects.”

The Innovation By Design Summit is in Doha on April 24. Attendance at the summit is by invitation only. Delegates can register here to receive their exclusive invite.

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