Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts are nonetheless a driving force. The sultanate’s...
Oman
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Chapter | Country Profile from The Report: Oman 2018
The effects of lower oil prices continue to be felt in Oman, with budget cuts and spending rationalisation still in evidence across the board. However, higher commodity prices in late 2017 and into early 2018 should provide a welcome boost to state revenues.
Economic update | Oman: Year in Review 2017
16 Jan 2018
Stronger oil prices offset lower energy production in Oman, as the government moved to accelerate fiscal reforms and broaden its revenue base.
Plans to accelerate development of the Omani fisheries industry are gaining pace, with a series of temporary labs designed to help operators overcome challenges.
With big plans for the modernisation of its waste management operations under way, including a transfer of the existing national infrastructure to international operators, Oman is nearing completion of major reforms in the sector.
Broad-based appeal and a growing reputation as an attractive destination for key markets suggest Oman could comfortably meet its long-term targets for the tourism industry, which include increasing visitor numbers to 11.7m by 2040.