Oman's economy was powered by agriculture, fishing, camel and goat herding, and handicrafts, until oil was discovered, propelling the sultanate's dramatic development over the past four decades. But when oil prices plunged in 2015, Oman ran a budget deficit of $8.57bn, forcing the government to raise corporate taxes, fuel prices and visa fees, and to cut subsidies. Many private companies started downsizing and suspended bonuses, and some expatriates sent their families home to cut back on living costs. [...]
But Oman plans to replace its heavy reliance on hydrocarbons by diversifying its economy, and transforming the tourism industry into a major revenue generator.
"Tourism certainly can and is playing a major role in Oman's economy," James Wilson, CEO of the state-run developer Omran, told Al Jazeera. "The government is now focused on five key economic sectors: tourism, logistics, manufacturing, mining and fisheries, all of which will help Oman advance from its current dependency on oil." [...]
Yet Oman's dream of becoming a tourist hub in the region is strewn with difficulties. Tourist visa regulations are one issue. A lack of transportation for tourists may also be a difficulty: Although Oman is dotted by a string of valleys with lush date plantations and emerald-green waters, they are far from the capital Muscat, where much of the accommodation lies.
No comments:
Post a Comment