Oman

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Chapter | Construction from The Report: Oman 2019

As the second-largest driver of non-hydrocarbons growth and the sector that employs the greatest number of people, construction plays a key role in the development of Oman’s economy. While 2017 proved to be a difficult year for the industry, forecasts suggest a return to growth in 2018 and 2019 on the back of higher oil prices and a government-supported diversification plan. For domestic...

Chapter | Energy from The Report: Oman 2019

The oil and gas sector is responsible for much of Oman’s economic growth and government revenue; thus, changes in the industry tend to reflect greatly on the sultanate’s overall development. Although recent years have seen a strategic shift towards economic diversification, activity in the hydrocarbons sector still attracts a large share of domestic and foreign investment, with this pattern...

Chapter | Insurance from The Report: Oman 2019

Despite difficult economic conditions, insurers have succeeded in posting consistent net profits in recent years. With the economy recovering from the decline in global oil prices starting in mid-2014, the industry is well positioned to take advantage of new opportunities. This is especially true as the government moves to implement mandatory health care coverage for both foreign and domestic...

Chapter | Capital Markets from The Report: Oman 2019

Muted investor sentiment since 2016 has slowed activity on Oman’s stock market. Downgrades by all three major ratings agencies and constricted spending have taken their toll on trading volumes, nudging the index into a negative trend over 2018. However, some parts of the market are benefitting from this scenario. Bonds and sukuk (Islamic bonds) have become a more inviting prospect for...

Chapter | Banking & IFS from The Report: Oman 2019

Oman’s banking sector has weathered the economic downturn resulting from the 2014-15 hydrocarbons price drop without a significant erosion in asset quality, and returned to its long-term trend of deposit and loan growth. As a result of firmer oil prices and a broadly positive outlook for the sultanate’s economy, the industry is preparing for a new phase of credit expansion. However, challenges...

Chapter | Economy from The Report: Oman 2019

Like other GCC states, Oman’s economy is largely driven by oil and gas activity. However, with fewer and more complex hydrocarbons reserves than its neighbours, it is under greater pressure to diversify its economic base. The scale of this challenge was highlighted by recent falling oil prices, which led to the largest fiscal deficit in more than a decade. Nevertheless, a combination of...

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