OMAN REVEALS AMBITIOUS PLAN TO BOOST TOURISM

Increasing visitor revenue to $22.5bn is part of country's economic strategy. Oman expects to earn over US$22.5 billion a year from tourism by 2040 as it bids to diversify its economy away from oil income. Plans are already under way to set up a cluster of tourism investments nationwide. One of the economic pillars of Oman 2040 Economic Vision is to increase revenue from tourism. In 2019, Oman welcomed about 3.2 million tourists, up 12% from the previous year. Oman has embarked on an ambitious economic development plan – Vision 2040 – to wean its economy off oil revenue and introduce medium-term measures to rein in its debt, which has grown in recent years.