Oman tourism arrivals to increase CAGR 13% to 2021
Tourism arrivals to Oman will increase at a Compound Annual Growth Rate (CAGR) of 13% between 2018 and 2021, according to data released ahead of Arabian Travel Market 2018 (ATM), which takes place at Dubai World Trade Centre from April 22-25.
Commissioned by ATM, the Colliers International data, predicts the rise will be fuelled by visitors from across the GCC, who accounted for 48% of guests in 2017. In addition, arrivals from India (10%), Germany (6%), the UK (5%) and Philippines (3%) are also expected to contribute heavily to the growth, supported by new visa processes and improved flight connections.
Historically, the Middle East has been the largest source market for Oman, with arrivals from this group increasing at an annual rate of 20% between 2012 and 2017.
These trends have contributed to a spike in companies looking to enter the Omani tourism market, as demonstrated during ATM 2017 when the number of attendees interested to do business with the Sultanate increased 13% compared to the 2016 edition of the show. The number of attendees from Oman increased 18% over the same period.
Simon Press, Senior Exhibition Director, ATM, said: â€œThe latest data demonstrates the growth in visitors to Oman will continue, supported by strategic investment from the government as it turns to tourism to diversify its income streams. Oman is a fantastic destination with responsible, eco, cultural and heritage attractions, as well as being a key travel hub, with significant opportunity to capitalise on transit itineraries for stopover visitors.â€
Accommodating the predicted influx, a number of major hotel chains have recently announced properties in Muscat, driving the 12% CAGR over the next three years; from 10,924 rooms in 2017 to 16,866 in 2021.