The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda.
The retail market in Oman differs from that of the majority of its Gulf neighbours, with a less concentrated urban population and lower per-capita GDP. Furthermore, the majority of the country’s workforce is private-sector-based, which is not the case for other Gulf countries, where the bulk of nationals are employed directly by the government...
What recent steps have been taken to deal with the sale of substandard or counterfeit goods?
When it comes to luxury goods, the GCC is one of the main drivers of global growth, with the region accounting for sales of $8bn in 2011, up 30% year-on-year, according to the “Retail International” report put out by Alpen Capital in December 2012. The outlook for the segment remains broadly positive as well, with a forecast compound annual...
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