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 31 2016 - Qatari Emir heads to Saudi Arabia to participate in GCC 16th Consultative MeetingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA, 31st May, 2016 (WAM) -- H.H. the Qatari Emir, Sheikh Tamim bin Hamad Al-Thani, left Doha on Tuesday morning for the Kingdom of Saudi Arabia to take ...

 May 31 2016 - DP World future leaders visit UAE Embassy in SingaporeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SINGAPORE / DUBAI, 31st May, 2016 (WAM) -- Future leaders of DP World UAE Region met Abdullah Al Mandoos, Acting Charge d'Affaires of the UAE Embassy in ...

 May 31 2016 - UAE- EAD organises workshop on mercury emissions inventoryEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- The Environment Agency - Abu Dhabi, EAD, yesterday organised a workshop to highlight the main findings of the Mercury ...

 May 31 2016 - UAE- Automation is key to sustaining operation efficiency and productivity: GASCOEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) - Sultan Al Muhairi, Senior Vice President for Technical Affairs of Abu Dhabi Gas Industries, GASCO, has affirmed that ...

 May 31 2016 - UAE- UN envoy to Yemen says violations to cessation of hostilities in Yemen unacceptableEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT, 31st May, 2016 (WAM) -- UN Special Envoy to Yemen, Ismail Ould Cheikh Ahmed, has expressed concerns about violations of the cessation of hostilities ...

 May 31 2016 - UAE- Ajman sees 20% rise in visitors and tourism revenue in Q1 2016Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 31st May, 2016 (WAM) -- The number of guest arrivals into the Emirate of Ajman during the first quarter of the year increased by 20 percent, ...

 May 31 2016 - Saudi Foreign Minister hails strong ties with EUEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 31st May, 2016 (WAM) -- Saudi Foreign Minister, Adel bin Ahmed Al-Jubeir, has said that the Kingdom of Saudi Arabia and the European Union enjoy ...

 May 31 2016 - UAE- Mohammed bin Rashid arrives in JeddahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 31st May, 2016 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, today arrived in ...

 May 31 2016 - Major fire at Indian arms depot kills 17Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NAGPUR, Indian, 31st May, 2016 (WAM) -- At least 17 security personnel, including two young Army officers, were killed today in a major fire that broke out ...

 May 31 2016 - Secretariat of Abu Dhabi Executive Council delegation visits UAE-Jordanian Refugee CampEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- A delegation from the General Secretariat of the Abu Dhabi Executive Council has visited the UAE-Jordanian camp for ...

more...


 





Google

 
 

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