Fitch Solutions upgraded its positive forecast for Oman’s tourism sector recovery during 2022 and 2023 with an expected stronger growth during the mid-term forecasts period 2024- 2026.
Fitch Solutions Agency highlighted the remarkable recovery of the tourism sector in the Sultanate starting from the fourth quarter of 2021.
The report expected the growth to continue in the coming years on account of the economic diversification programs of Oman Vision 2040.
Development is also expected through government program for recovery from the Covid-19 pandemic, digital marketing initiatives, and the announcement of new investments in the tourism sector.
Meanwhile, the Ministry of Heritage and Tourism stressed that government incentives have directly helped ease the impact of the pandemic on the sector and its employees.
The Ministry stated that it is implementing the comprehensive tourism development plan through management and competence building, and programs covering governance; local community; planning and investment; quality, sustainability, competitiveness; in-country value and employment; and integrated tourism.
International reports on the tourism sector are effective tools for independent evaluation of the development efforts and help boost its competitiveness and attract investment, it added.
