NEW YORK, Jan. 10, 2017 /PRNewswire/ -- Includes 3 FREE quarterly updates
Oman is targeting tourism as a key growth industry as the country looks to develop and diversify domestic sources of economic expansion. There is no shortage of growth potential as Oman offers numerous attractions to entice potential visitors, including beach and mountain resorts, world-class cultural and historical destinations and a growing luxury hotel sector. While visitor numbers are rising slowly, proximity to the conflict in Yemen and wider regional security concerns do have the potential to deter inbound tourists, and overall the market remains one of the smallest in the region.
Key Updates and Forecasts
- Starwood's Sheraton brand hotel in Oman has recently completed a multi-million dollar renovation, and the group has plans to open four new hotels in the country. Much of the investment in Oman's hotel sector has been concentrated on the luxury hotel segment; however, we are gradually seeing a trickle down with Singapore's General Hotel Management announcing plans to open a new mid-scale brand Tin Hotels property in Oman by 2019.
- International air travel connections are set to expand with the launch of new Omani budget airline SalamAir. SalamAir reportedly plans to have multiple daily flights between Muscat and Salalah alongside connections to Dubai, Jeddah and potential locations in East Africa and India. The first flights are expected by the end of 2016.
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