APRIL 13, 2023
High investment in tourism sector by 2025: Oman
The tourism sector is witnessing a significant growth with 363 projects, worth RO2.290bn, either established or to be developed by 2025.
The Ministry of Heritage and Tourism revealed the figures on Wednesday stating that it expects investments in the tourism sector to reach RO3bn by 2025 by attracting additional investments worth RO700mn. ‘There are indications of the possibility of exceeding the target early,’ it stated.
H E Salem bin Mohammad al Mahrouqi, Minister of Heritage and Tourism, said that the tourism sector is one of the sectors that can help achieve economic diversification and direct investments to maximise the potential of the sultanate as a leading tourism destination.
He informed that investment in the tourism sector also works in developing the economy of the governorates, through projects that keep pace with the comparative advantages of each governorate, in addition to the benefit of these projects to local communities and small and medium enterprises.
Integrated tourism complexes
H E Mahrouqi pointed out that integrated tourism complexes form the bulk of investments in the tourism sector. “Twelve integrated tourism complexes with an investment value of RO3.9bn are currently being implemented, of which RO1.07bn will be invested in the 2021-2025 period.”
These complexes include the Al Mouj project, Barr al Jissah Resort (the port district development), Mandarin Oriental Residences, Diar Ras al Hadd Resort, Salalah Beach Resort, Yiti Sustainable City, Phase Two of Mirbat Tourism Project, Phase One A of Jebel Sifah, Blue City Project, The Orient and the Palm Resort project.
Preparations are also underway for another package of integrated tourism complexes to be located in the governorates of Muscat, Musandam and South Sharqiyah, of an estimated value of RO2.5bn.
H E Mahrouqi also revealed that a few qualitative and multiuse projects – total investment value of RO262mn – are under development, including the Oman Botanic Garden, the Village Project and the Salalah Gardens (The Nargil Farm) project.
Also, a number of projects are currently under plans at Hallaniyat and Dimaniyat Islands with an estimated investment cost of RO137mn by 2025.
Regarding investments in the hotel industry, the minister informed that 127 new hotel projects with an investment of RO340mn are under implementation, including 14 hotel projects – with an investment of more than RO5mn per project – totalling about RO238mn in investments.
In addition, 113 hotels – with an investment of less than RO5mn per project – are being implemented at a cost of RO102mn, of which 15 projects are being implemented on government land and 98 on private land.
The sector saw development of 124 hotels between 2021 to 2022 with a total investment of RO139mn, including the Avani Muscat Hotel, DusitD2 Naseem Resort Jabal Akhdar, IntercityHotel Muscat and Jumeirah Muscat Bay.
Development of domestic tourism
The ministry informed that 24 domestic tourism development projects are being implemented by the governorates at a cost of RO16.6mn, while work is underway on 14 projects to develop and invest in heritage sites and historical monuments at a cost of RO13.8mn.
Eight projects to renovate museums and private heritage houses, at a cost of RO17,000, are currently being undertaken, besides six projects – worth RO45,000 – to establish exhibition halls in castles and forts.
Preparations are also underway to invest RO1.884mn in 34 historical landmarks to facilitate opportunities for small and medium enterprises.