Oman Tourism Report Q3 2011
Business Monitor International, June 2011, Pages: 44
The Oman Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Oman's tourism industry.
Oman’s tourism sector has been one of this oil rich country’s real success stories. Faced with the prospect of its oil reserves running out faster than many of its Gulf neighbours, the Sultanate has needed to broaden its economic base. The path taken by its tourism industry has been to emphasise its genuine historical and natural attractions. It is, in many ways, a foil to its glitzy neighbour in Dubai.
There are a number of key positives that favour the industry in Oman:
- There are very significant investments being made in facilities and supporting infrastructure.
- The economy is solidly based and in a position to support the planned investments in its tourism sector.
- Oman Air, as an indicator for the industry is presently thriving. In its 2010 profit announcement the company reported a 40% increase in revenues – at a time of very lacklustre growth for civil aviation globally. As the shadow from the Global Financial Crisis recedes, the company has resumed its services between Salalah and Dubai and between Muscat and Zanzibar. It has also announced that it is introducing daily flights between Colombo and Muscat.
Balancing these are a few risks to the generally optimistic outlook:
- While Oman has avoided most of the political upheaval that has rocked the region there are still questions and many turn on the position of the Sultan. Sultan Qaboos has been in power for 40 years. He has done much to modernise the country and is popular to the point of unchallengeable. However, he is now ageing and there is no apparent succession plan.
- The country has a young demographic. More than half the population is under 25 and the labour market is struggling to absorb the large number of relatively well educated people coming into the workforce each year. The present solution of creating ever more government jobs cannot continue forever.
Overall, though, we are predicting solid growth throughout the forecast period with visitor numbers growing 5-6% each year.
Executive Summary
SWOT Analysis
Oman Tourism SWOT
Oman Political SWOT
Oman Economic SWOT
Oman Business Environment SWOT
Industry Forecast Scenario
Arrivals
Table: Arrivals Data, 2007-2015
Accommodation
Table: Accommodation Data, 2007-2015
Expenditure
Table: Tourist Expenditure & Economic Impact, 2007-2015
Inbound Tourism
Table: Tourist Arrivals, 2007-2015
Outbound Tourism
Table: Outbound Tourism Data, 2007-2015
Market Overview – Travel
Commercial Airlines
Airports
Road Transport
Ferries
Rail
Global Oil Products Price Outlook
Table: Oil Product Price Assumptions, Q410-Q411 (US$/bbl)
Table: Oil Product Price Data And Forecasts, 2008-2015 (US$/bbl)
Market Overview – Hospitality
Accommodation
Accommodation Developments
Tourism Infrastructure
Business Environment Outlook
Table: Middle East And Africa Travel And Tourism Business Environment Ratings
Middle East And Africa Security Overview
Global Assumptions, Q311
Table: Global Assumptions, 2009-2015
Table: Global And Regional Real GDP Growth, 2010-2013 (% change y-o-y)
Table: Selected Exchange Rates, 2010-2013 (average)
Developed States
Table: Developed States’ GDP Growth, 2010-2013 (% change y-o-y)
Emerging Markets
Table: Emerging Markets’ GDP Growth, 2010-2013 (% change y-o-y)
Consensus Forecasts
Table: Bloomberg Consensus GDP Growth Forecasts, 2011-2012 (% change y-o-y)
Company Profiles
Al-Batinah Hotels
Oman Air
BMI Methodology
How We Generate Our Industry Forecasts
Tourism Industry
Tourism Ratings – Methodology
Table: Tourism Business Environment Indicators
Table: Weighting of Components
Sources
- Al-Batinah Hotels
- Oman Air
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