Oman

Over the past 40 years, Oman’s telecoms market has transformed from a state monopoly to a multi-player market, one that has been marked by an increasingly fast pace of development. As more players have entered the market, fierce competition among operators has helped keep prices down. The sector has enjoyed good growth in recent years; mobile subscribers almost tripled between 2005 and the second...

Oman’s cultural heritage is renowned throughout the region and beyond, and much of the government’s effort in relation to it has been exerted on its preservation and ensuring that the sultanate’s young population is imbued with the richness of its past. The nation’s youth are also the principal target of a drive to enhance Oman’s sporting infrastructure and proficiency, a strategy that has...

Farming and fishing play important roles in the Omani economy: more than half the local population and some 7.8% of expatriate workers are employed in these industries. This is despite the historic challenge of an arid climate and scarcity of water for crop cultivation, which have traditionally limited development. However, the implementation of modern irrigation techniques in recent times has...

As part of a strategy to diversify the economy away from the oil and gas sector, efforts are continuing apace within the industrial sector. In particular, the government is working to expand steel production, as regional demand is expected to increase in line with large-scale projects underway in the GCC region. The aluminium industry, for example, is showing signs of good growth, with new...

While Oman’s property market remained relatively slow in 2011, the sector is showing signs of steady growth. In fact, property prices are now reported to be roughly three times what they were before the global slowdown. Overall, real estate contributed almost 4% to GDP in the first quarter of 2012. The sector does face challenges, most notably the shortage of affordable homes. Indeed, about 400,...

A range of construction projects lies at the heart of Oman’s growing economic development. The construction sector contributed more than OR307m ($800m) to the economy during the first quarter of 2012, showing growth of almost 4% when compared to the same period in 2011. While many projects in Muscat are focused on increasing the city’s tourism appeal, construction related to industrial and...