Optimistic Projections for Oman Tourism Sector as Arrival Numbers Set to Exceed 5 Million in 2024
Muscat, The Gulf Observer: Tourism in Oman is poised for a remarkable resurgence, buoyed by the latest report from BMI, a renowned Fitch Solutions company, which paints a promising picture for the Sultanate’s rebounding tourism sector. According to the report, Oman is on track to experience a substantial surge in tourist arrivals in 2024, with projected numbers surpassing the 5 million mark for the first time.
The optimistic outlook reflects Oman’s growing appeal as a premier travel destination, supported by data compiled by the National Centre for Statistics and Information (NCSI), which recorded 4.3 million tourist arrivals in 2023. The latest BMI report anticipates a significant year-on-year growth rate of 24.7% in 2024, resulting in an estimated 5.3 million tourist arrivals. This upward trajectory is forecasted to continue throughout the medium-term forecast period (2024-2028), with arrivals projected to reach a remarkable 10.8 million by 2028.
Mr. [Expert], a leading analyst at BMI, remarked, “We anticipate Oman’s arrivals to grow steadily, marking a new pinnacle for the country. This trajectory suggests Oman is well-positioned to achieve its ambitious target of welcoming 11.0 million tourists annually by 2040, as outlined in Oman’s Vision 2040 Strategy.”
Key source markets, including GCC states, Asia-Pacific, and Europe, are expected to drive this growth, with arrivals from GCC states alone reaching approximately 1.6 million in 2023. Notable contributors include India, with an estimated 610,000 visitors, followed by Germany and Mainland China with 150,000 and 118,000 visitors, respectively.
While the long-term goal of attracting 11 million tourists annually by 2040 appears attainable, BMI cautions against potential downside risks stemming from weaker global economic conditions, particularly in the Asia Pacific and European markets. Factors such as high living costs and tighter credit conditions may impact discretionary spending, potentially affecting long-haul travel to Oman.
However, despite these challenges, BMI remains optimistic about Oman’s tourism sector’s overall resilience, emphasizing its accessibility from key source markets and robust transport links. The Sultanate’s appeal as a luxury holiday destination further enhances its competitive edge in the global tourism landscape.
Nevertheless, BMI stresses the need for Oman to remain competitive amidst the expanding tourism offerings within the broader GCC region as part of its broader economic diversification efforts.
As Oman’s tourism sector charts a course towards sustained growth and resilience, stakeholders remain optimistic about the industry’s trajectory, poised to capitalize on emerging opportunities and position Oman as a premier travel destination on the global stage.
