Oman’s government foresees a healthy pick-up in tourism activity during 2010, in trend with a widely anticipated recovery in global financial markets. The bright outlook for the tourism sector, according to Ahmed bin Abdulnabi Macki, Minister of National Economy and Vice-President of the Financial Affairs and Energy Resources Council, will have a positive bearing on tourist arrivals, as well as spur the implementation of mega tourism projects.
“As for 2010, recent data suggests that the global recession will come gradually to an end, and the world economy is expected to grow at 3.1 per cent, with mainly advanced economies growing at 1.3 per cent, and the Middle East at 4 per cent, according to IMF forecasts. “And with the recovery in financial markets expected, significant credit contractions are unlikely, and capital flow will again begin to grow broadly,” Macki said.
“Therefore expectations for tourism in 2010 are more optimistic in terms of the number of tourists, hotel occupancy, hotel nights, and the implementation of integrated tourism complexes and general tourism infrastructure projects,” he noted in comments to the Observer. The government’s expansionary fiscal policy, coupled with monetary policies designed to increase liquidity, have helped mitigate the adverse impacts of the global credit crunch and the financial crisis on the implementation of mega tourism projects and related initiatives, the minister said.
Source: Oman Daily Observer