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FINANCIAL NEWS
Hospitality market in Oman to touch USD1bn by 2020
24 Aug 2016
(MENAFN) Oman hospitality market is predicted to increase at an annual growth rate of 6.2 percent from 2015 to USD1bn in 2020.
Additionally, the increase is attributed to a 5.3 percent annual increase in hotels and serviced apartment from inventory and 6.3pct in global tourist arrivals.
Accordingly, the Sultanate government tourism aim to double tourist arrivals by 2040 by developing tourist spots and helping private investments.
However, it will face a slow growth due to the drop anticipated this year, after the country key hospitality indicators will grow steadily.
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