FINANCIAL NEWS

Oman’s tourism to add USD1.93b to GDP

28 Jun 2011

(MENAFN) The World Travel and Tourism Council (WTTC) said that this year, Oman’s tourism sector would be forecasted to add 3 percent or around USD1.93 billion to the country’s national gross domestic product (GDP), reported Gulf News.

The council added that the sector’s investments would contribute with 6 percent of Oman’s total investments by the year 2021, furthermore, the industry would provide over 50,000 jobs.

It also said that Oman’s Ministry of Tourism would spend USD8 billion on tourism-related property developments across the country in its attempt to bring around 12 million visitors annually by 2020.

It is worth noting that Oman will launch its USD1 billion Conference and Exhibition Centre in Muscat that will be completed by the year 2014 which will transform the country into a major destination for key business events.

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