The Middle East

Given rapid growth in other sectors of the economy, fishing and farming’s relative contribution has decreased in recent years, falling from 2.8% of GDP in 1995 to 1.1% in 2012, however the government is aiming to spur sector growth and boost this to 5.1% of GDP by 2020. Steady increases in crop and livestock yields have raised self-sufficiency levels; as of early 2013, Oman produced 75% of its...

Regular rises in the minimum wage, the most recent of which took place in July 2013, have increased overall purchasing power in the sultanate. Other factors, such as a rising number of expatriates and tourists, the growing appeal and awareness of international trends, low market saturation, political stability and high oil prices have attracted major investments by international retailers that...

As oil reserves continue to draw down, the government is focusing on downstream processing and developing a complementary port infrastructure and transport net- work. By 2020, the government aims for industry to contribute 30% of GDP and to reduce oil’s share of GDP from 50% to 19%. The discovery of mineral resources presents further opportunity in mining growth. This chapter contains...

The market saw a rapid slowdown after 2008, as investors backed away from the Gulf and economic growth tapered. However, from 2012, development has picked up to meet resurgent demand, and major projects are being rolled out in all sectors. Economic expansion, a growing population and increasing interest from foreign investors are driving a strong recovery in Oman’s real estate market. Expansion...

Upgrades to the transportation infrastructure continue to drive sector expansion. Between 2011 and 2015, the government plans to invest some $10.7bn on infrastructure projects alone, with state spending on affordable housing also set to provide opportunities for contractors. Sector growth was expected to reach 5.5% in 2013, bringing total industry value to $4.3bn. This chapter contains an...

The country’s water and power sectors have undergone a steady liberalisation process since legislation outlining privatisation was passed in 2004, and this has generally been considered as a success. As one of the most open in the region to foreign investment and private ownership of assets, Oman’s utilities sector is expanding strongly to meet growing demand for power and water. There are some...