Oman Tourism Report Q3 2016 - New Market Study Published
Fast Market Research recommends "Oman Tourism Report Q3 2016" from Business Monitor International, now available
[ClickPress, Thu Jun 16 2016] Oman's tourism industry is expected to grow steadily over the course of our five year forecast period through to 2020, with arrivals from a range of source markets, both regional and further afield, expected to increase annually as travel connections are improved and visa restrictions are lifted. While Oman is a relatively small destination, the country is developing the range of tourism attractions on offer and we are seeing significant investment in the hotel sector as the market attempts to position itself as a major competitor to the nearby United Arab Emirates. We do note, however, that s ome downside risk to our current forecasts stems from regional security concerns, which could impact upon travel throughout the Middle East region.
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Key Updates and Forecasts
In May 2016 Oman launched its 2040 Tourism Development Strategy under which the country is targeting rapid growth in international tourism arrivals to reach 5mn annually by 2040, as well as day-trip and domestic tourism growth. By 2040 the Sultanate is aiming for tourism to constitute 6% of annual GDP.
The potential development of a single visa scheme for Gulf Cooperation Council (GCC) countries (Oman, Saudi Arabia, Qatar, United Arab Emirates, Kuwait and Bahrain), similar to Europe's Schengen Zone, could boost tourism to Oman from source markets outside of the GCC region, though at present there is no timetable for implementation.
At present, we expect international arrivals to Oman to increase by 3% in 2016 to reach just under 1.2mn. Several initiatives to improve air travel connections will support this growth, including the launch of new flight routes to major European markets by Oman Air and to Asia Pacific destinations by Kuwait Airways.
The Oman Tourism Report has been researched at source and features BMI Research's independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's Oman Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Omani tourism industry.
Benchmark BMI's independent tourism industry forecasts for Oman to test other views - a key input for successful budgetary and planning in the Omani tourism market.
Target business opportunities and risks in the Omani tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Oman.
Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
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