FINANCIAL NEWS

Oman’s passenger car to reach over 889.000 by 2020

08 Dec 2016

(MENAFN) Number of passenger cars in Oman is predicted to reach more than 889.000 in 2020, translating into a five-year annual growth rate of 3.6 percent.

However, the Sultanate saw a decline in new passenger car sales in the last couple of years due to the economic slowdown.

On the other hand, the country”s share of the total GCC passenger cars in use will decline from an estimated 7.2 percent in 2015 to 6.8 percent in 2020.

The government aims to develop many tourist spots and enhance private investments in development of tourism-related infrastructure.

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