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
 Dec 20 2014 - Etihad has no further A380 orders, Boeing 787 delayedMENAFN
(MENAFN) Etihad Airways is not interested in ordering any more Airbus A380s, while the launch of its first Boeing 787-9 Dreamliner into service has been delayed, Gulf News reported.The Dreamliner ...

 Dec 20 2014 - Saudi rail expansion contributes to domestic tourismMENAFN
(MENAFN) Saudi Railways Organization (SRO) President has lauded the efforts of Saudi Commission for Tourism and Antiquities (SCTA) in developing the tourism sector and preserving national heritage, ...

 Dec 20 2014 - Tunisia, Germany sign USD55.21m loan agreementMENAFN
(MENAFN) Tunisia and Germany have signed a loan agreement worth USD55.21 million for the modernization of more than 300 educational institutions in the different regions of the country, QNA ...

 Dec 20 2014 - Qatar- Magnificent Mirza wins stage 2The Peninsula
(MENAFN - The Peninsula) Overnight leader Azzedine Lagab yesterday retained his position at the Tour of Zubarah where defending champion Yusif Mirza of the UAE produced a late burst to win stage ...

 Dec 20 2014 - Aishwarya to make comeback with JazbaaKhaleej Times
(MENAFN - Khaleej Times) Jazbaa is a contemporary thriller set in modern-day Mumbai. Los Angeles - Former Miss World and popular Bollywood actress Aishwarya Rai Bachchan will make her comeback with ...

 Dec 20 2014 - UAE- Srikanth looks to change strategy for next two tiesKhaleej Times
(MENAFN - Khaleej Times) Indian star Kidambi Srikanth set to play Sugiarto and Jorgensen in Dubai event.Kidambi Srikanth faltered in the first set but made a strong comeback against Kento Momoto on ...

 Dec 20 2014 - UAE- Aussie rookie makes an early impactKhaleej Times
(MENAFN - Khaleej Times) Cannon makes statement for Mena Golf Tour with a steady performance at the Dubai Open. Chris Cannon was playing for the first time in an asian tour event Dubai — An ...

 Dec 20 2014 - UAE- Chen and Saina cruiseKhaleej Times
(MENAFN - Khaleej Times) South Koreas Bae shocks Chinese No.Saina Nehwal of India in action against Sung Ji Hyun of South Korea at the BWF Destination Dubai World Superseries Finals on Thursday. ...

 Dec 20 2014 - UAE- Teary-eyed for 132 dreams lostKhaleej Times
(MENAFN - Khaleej Times) Pak ambassador condemns Taleban for using Islams cover to justify massacre Abu Dhabi: The Pakistani community in Abu Dhabi gathered at the embassy on Thursday morning to ...

 Dec 20 2014 - IT teacher steals students iPad sells it onlineKhaleej Times
(MENAFN - Khaleej Times) The teachers theft was allegedly busted after she posted an advertisement on a popular website to sell the iPad. Dubai: An Information Technology (IT) teacher is standing ...

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