A significant portion of economic activity in Oman is concentrated in the country’s capital and nearby surrounding areas. A number of other regions in the sultanate, however, remain key drivers of economic growth and are playing an increasingly important role as the national economy matures and diversifies. Most notably, these areas include...
The provision of employment opportunities for Oman’s young population has become a primary concern of the government in recent years. While the sultanate has escaped the recent political turbulence that has afflicted other parts of the region, Oman’s median age of 24.1 (compared, for example, to a median age of 40.2 in the UK) underlines the...
Trade is an activity embedded in Omani history, crucial to facilitating the country’s past and present economic successes. In the past five years, Omani exports have seen impressive growth. Although in 2009 they dipped from OR14.5bn ($37.8bn) to OR10.6bn ($27.7bn) due in large part to global economic conditions, exports bounced back quickly. By...
At the base of the Arabian Peninsula, occupying a landmass slightly larger than Italy, Oman is the largest country in the GCC after Saudi Arabia. In recent years, the non-OPEC oil exporter’s economy has been undergoing a steady transformation, reorienting from oil toward a more diverse set of service and industry-based economic activities. So...
Small and medium-sized enterprises (SMEs) make up around 16% of the sultanate’s GDP – no small feat for companies with fewer than 100 employees. SMEs in Oman, as defined by the Ministry of Commerce and Industry (MoCI), are businesses with no more than 99 workers and annual sales of up to OR1.5m ($3.8m). Depending on size and sales numbers,...
With its lengthy coastline running along the edge of a sometimes mountainous and often desert interior, Oman is a country of many different aspects. It is both an ancient maritime power and a key desert sultanate, a place both open to the modern world and that preserves a strong sense of tradition and culture. Indeed, while many countries are...
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