Oman announces $8bn budget for property development
Oman has reportedly approved a budget of US $8 billion for tourism-related property development across the country. Figures released by Oman’s Ministry of Tourism under the country’s 2020 development plan suggest the investment will boost both the construction and tourism sectors, of which the latter is expected to contribute around 3% to GDP this year. […]
Oman has reportedly approved a budget of US $8 billion for tourism-related property development across the country.
Figures released by Oman’s Ministry of Tourism under the country’s 2020 development plan suggest the investment will boost both the construction and tourism sectors, of which the latter is expected to contribute around 3% to GDP this year.
Oman’s Ministry of Tourism aims to eventually draw in 12 million visitors a year by 2020 to make the tourism industry one of the country’s largest income generators.
“The development of the convention centre in Muscat forms part of our efforts to establish Oman as an all-around business, leisure and lifestyle destination,” says director general of tourism promotion at the ministry, Salem Al Mamari, adding the “excellent transport infrastructure” adds to the country’s attractions.
The Ministry is organising a number of ‘familiarisation’ tours for potential investors to generate interest in the country’s growth strategy plans.
