Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Oman to lead ME in tourism growth Report  Join our daily free Newsletter

MENAFN - Muscat Daily - 15/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) The sultanate is expected to lead the Middle East in terms of growth in the travel and tourism industry and to post one of the strongest growth rates worldwide in the sector in 2014, according to a report released recently by the World Travel and Tourism Council (WTTC).


In its annual Travel and Tourism Economic Impact 2014 report, WTTC said that the direct contribution of the travel and tourism industry to Oman's  GDP in 2013 was RO982.8mn (three per cent of GDP) and this is forecast to rise by 10.2 per cent to RO1.08bn in 2014.


''This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists in Oman,'' WTTC said.


The average growth in the direct contribution of travel and tourism to GDP in the Middle East region is forecast at 5.5 per cent, while the world average growth is expected to be 4.3 per cent in 2014.


WTTC, the authority on world travel and tourism, said that the direct contribution of travel and tourism to Oman's GDP is expected to grow by 5.4 per cent per annum to RO1.83bn (3.9 per cent of GDP) by 2024.


It said that the total contribution of travel and tourism to Oman's GDP is twice as large as its direct contribution. The total contribution of travel and tourism to GDP (including wider effects from investment, the supply chain and induced income impacts) was RO2.08bn (6.4 per cent of GDP) in 2013 and is expected to grow by 9.4 per cent to RO2.27bn in 2014. The total contribution to GDP is forecast to rise by 5.5 per cent per annum to RO3.88bn (8.2 per cent of GDP)  by 2024.
graph-5

According to WTTC, the travel and tourism industry in Oman supported 37,000 jobs directly in 2013 and this is forecast to grow by 11.4 per cent in 2014 to 41,000 jobs, again among the strongest growth worldwide and the fastest growth in the Middle East region.


''This includes employment by hotels, travel agents, airlines and other passenger transportation services. It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists. By 2024, in Oman, travel and tourism will account for 60,000 jobs directly, an increase of 3.9 per cent per annum over the next ten years.''


WTTC further added that the total contribution of travel and tourism to employment (including the wider effects from investment, the supply chain and induced income impacts) was 72,000 jobs in 2013 and this is forecast to rise by 10.6 per cent in 2014 to 79,500 jobs.


WTTC said that visitor exports - spending within the country by international tourists for both business and leisure trips, including spending on transport - are a key component of the direct contribution of travel and tourism.


''In 2013, Oman generated RO710.5mn in visitor exports. In 2014, this is expected to grow by 9.7 per cent, and the country is expected to attract 1.66mn international tourists. By 2024, international tourist arrivals are forecast to total 2.86mn, generating expenditure of RO1.41bn, an increase of 6.1 per cent per annum over the ten years,'' WTTC said.


The report added that the tourism sector in Oman is expected to have attracted a capital investment of RO254.6mn in 2013 and this is expected to rise by 11.7 per cent in 201

 






  MENA News Headlines
 Sep 2 2014 - Egypt military academy stampede kills 9Arab News
(MENAFN - Arab News) CAIRO Nine people were killed on Tuesday in a stampede outside a military academy in Egypt by relatives seeking to visit cadets the army said in a statement.The military released ...

 Sep 2 2014 - Attack on Egypt security convoy kills 11 in SinaiArab News
(MENAFN - Arab News) CAIRO: An attack on a convoy killed 11 members of the Egyptian security forces in the Sinai Peninsula on Tuesday security and medical sources said.Two were killed by a roadside ...

 Sep 2 2014 - UAE- Human League to perform in DubaiKhaleej Times
(MENAFN - Khaleej Times) The Human League bring their electro-pop back catalogue to Dubai New wave legends The Human League will bathe The Irish Village in synths for their show on Thursday September ...

 Sep 2 2014 - UAE- Ismail Matar backs Mahdis contract extensionKhaleej Times
(MENAFN - Khaleej Times) Matar hinted that het could be able to return to the pitch in two weeks time after covering half of the four-week period decided by the doctors for his recovery.Dubai: Al ...

 Sep 2 2014 - Dubai does well to curb thalassaemia in newbornsKhaleej Times
(MENAFN - Khaleej Times) Drop in the number of disease cases attributed to awareness campaigns screenings.The number of cases of thalassaemia in newborns in Dubai has drastically reduced due to the ...

 Sep 2 2014 - UAE- Umm Al Quwain offers 50 per cent off on traffic finesKhaleej Times
(MENAFN - Khaleej Times) The 50 per cent cut on pending fines includes unpaid fines for speeding and other traffic violations available till December 5.The UAQ Police are offering a 50 per cent ...

 Sep 2 2014 - UAE- Ajman launches online renewal of car registrationKhaleej Times
(MENAFN - Khaleej Times) The programme also provides the opportunity for public to renew their registration card without having to visit the traffic department.The Ajman Police on Monday launched its ...

 Sep 2 2014 - UAE- Cop accused of kidnapping raping womanKhaleej Times
(MENAFN - Khaleej Times) He drove her to a dark location near a construction site after offering a lift where he allegedly raped her.A cop has been charged in the Court of First Instance with ...

 Sep 2 2014 - UAE- Manager blackmails women staff for sex court hearsKhaleej Times
(MENAFN - Khaleej Times) Three women have complained against the 31-year-old man alleging that he had been constantly sexually harassing them.A Palestinian manager has been brought before the Court ...

 Sep 2 2014 - UAE- 22-year-old Indian found hanging from treeKhaleej Times
(MENAFN - Khaleej Times) Police patrols and paramedics were rushed to the spot who took down the body and transferred it to Al Dhaid Hospital for an autopsy.A 22-year-old Indian man was found hanging ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help