The World Travel and Tourism Council (WTTC) released its 2024 Economic Impact Research (EIR), highlighting a bright future for Oman’s Travel & Tourism sector.
According to the report, the industry is set to recover and soar to new heights this year. As a result, the global tourism organization predicts that the sector will enhance its GDP contribution to over OMR 3.3 billion in 2024, representing 7.6 percent of the country’s total economy, VisaGuide.World reports.
It is also anticipated to employ over 206,000 individuals nationwide, with one in every fourteen people working within this sector.
Domestic Visitor Spending Expected to Surpass Pre-pandemic Levels in 2024
At the same time, domestic visitor spending is expected to continue growing, reaching OMR 1.5 billion and surpassing the 2019 figure by approximately eight percent. While international visitor spending is still expected to fall short of 2019 by OMR 142.3 million, it is projected to keep growing throughout 2024.
Oman’s Travel & Tourism sector is on the cusp of a historic revival in 2024. The Oman Government strongly supports Travel & Tourism and aims to achieve unprecedented economic growth and job creation.
The WTTC’s recent findings indicate that the sector’s contribution to GDP also saw an increase last year (by nearly 35 percent), reaching OMR 2.8 billion. Following this growth rate, employment in the sector grew by 15 percent, supporting 191,500 jobs nationwide.
During the same period, international tourists contributed OMR 1.1 billion to the economy, a significant 69 percent rise from 2022, while domestic tourism spending bounced back to OMR 1.4 billion.
As the WTTC points out, Oman’s reputation as a leading tourist destination in the Middle East is more evident than ever, driven by strategic government investments and support.
Over 265,600 Jobs to Be Created in Oman’s Tourism Sector by 2024
By 2034, the global tourism organization forecasts that the sector’s annual GDP contribution will increase to OMR 5.4 billion, accounting for 9.8 percent of Oman’s economy, and will support over 265,600 jobs nationwide, with one in every thirteen residents employed in the sector.
Moreover, last year, the Middle Eastern Travel and Tourism sector expanded by more than 25 percent, reaching nearly $460 billion. Employment in the industry rose to almost 7.75 million, and international spending surged by 50 percent to $179.8 billion. Domestic visitor spending increased by 16.5 percent to surpass $205 billion.
For 2024, the WTTC projects continued growth in the region’s Travel and Tourism, with the GDP contribution expected to reach $507 billion. Employment is forecast to rise to 8.3 million, with international visitor spending predicted to reach $198 billion and domestic spending anticipated to exceed $224 billion.