Quotes: 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

 


Muscat Daily




  MENA News Headlines
 May 25 2015 - Syria: Opposition forces kill 15 Assad regime soldiersThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Syrian opposition forces have killed 15 regime troops in operations in Aleppo, in northern Syria, the opposition said.The spokesman of what is referred to as ...

 May 25 2015 - Jordan calls for 'serious' Palestinian-Israeli talksThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Jordan called on Sunday for launching "serious" and "effective" negotiations between the Palestinians and the Israelis.Foreign Minister Nasser Judeh said the ...

 May 25 2015 - Libya pro-Brotherhood figures to attend Cairo meetingThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Some pro-Muslim Brotherhood figures from Libya will attend a Libyan tribal leaders' meeting scheduled to start in Cairo on Monday, an Egyptian newspaper ...

 May 25 2015 - Kuwaiti Singer Al-Rowaished HonoredArab Times
(MENAFN - Arab Times) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah honored Sunday singer Abdullah Al- Rowaished for acquiring an ...

 May 25 2015 - General Assembly Members Of Qadisiya Club Honors Team For Winning Amir CupArab Times
(MENAFN - Arab Times) General Assembly members of Qadisiya Club Saoud Abdul Aziz Al-Babtain and Mohammad Abdul Aziz Al-Babtain organized a ceremony in honor of the number one football team in ...

 May 25 2015 - ALARGAN Posts KD 4.7mn Net Profit In 2014Arab Times
(MENAFN - Arab Times) ALARGAN International Real Estate Company held its ordinary General Assembly meeting on May 24, 2015, with an attendance level that reached 94.51 %. During the meeting, the ...

 May 25 2015 - KSE Kicks Off Week With 21.18 Pts DropArab Times
(MENAFN - Arab Times) Kuwait stocks pulled lower on Sunday after ending the previous week on dull note. The main index dropped 21.18 pts in lackluster trade to close at 631.09 pts as sentiment ...

 May 25 2015 - Kuwait Govt Woos Investors With Lucrative Business EnvironmentArab Times
(MENAFN - Arab Times) Kuwait has a lucrative business environment for foreign investors to ultimately see economic and human development, thus honoring His Highness the Amir Sheikh Sabah Al-Ahmad ...

 May 25 2015 - Jordan- Govts Need To Invest More In Infrastructure: AlghanimArab Times
(MENAFN - Arab Times) Bring more Arab women into the workforce, invest in "bite-sized" infrastructure projects and get the private sector more involved in training young job seekers - these are the ...

 May 25 2015 - Shabaab Fighting In Somalia Kills 24 PeopleArab Times
(MENAFN - Arab Times) Fighting in south Somalia between al Shabaab militants and government forces killed at least 24 people, while a rebel attack in the capital killed three Transport Ministry ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help