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Oman’s tourism ministry unveils new investment packages for SMEs

23 Oct 2023 Tourism ministry in Oman unveils new investment packages for SMEs

Muscat – In a bid to bolster small and medium enterprises (SMEs) and invigorate the country’s tourism sector, the Ministry of Heritage and Tourism (MHT) has rolled out its second tranche of investment opportunities for this year.

MHT, in collaboration with the Authority for Small and Medium Enterprises Development (ASMED), has identified nine distinct investment prospects across seven governorates. 

Among them is a 9,357sqm plot that has been earmarked for a temporary camping venture in Ghamda, located in the wilayat of Bukha in Musandam. 

Additionally, there’s a sizable 121,447sqm area designated for another temporary camping project in Safwan, wilayat of Mahdah, in Buraimi, complemented by a hotel project in Tawi Al Qa’dah within the same governorate.

Other investments involve hotel projects in Al Awabi, South Batinah, over a 8,110sqm of land; a 5,000sqm hotel in Quriyat Muscat; a boutique 1,000sqm hotel in Saiq, Jabal Akhdar, in the Dakhiliyah governorate; a 5,800sqm hotel facility in Ibri, Dhahirah; and a sizable 10,000sqm hotel in Bidiya, North Sharqiyah. 

Additionally, a 10,000sqm area in Al Jufra, wilayat of Ibrit in Dhahirah governorate, has been set aside for another temporary camping place.

These initiatives predominantly target SME proprietors, aiming to galvanise economic activities and tourism. 

“The overarching goal is to draw an increased number of tourists, amplify support for SMEs, and inspire them to delve into the tourism industry,” commented an MHT official.

Global firm BMI anticipates a surge in tourist arrivals to Oman, projecting 3.5mn international visitors in 2023, denoting a 20.8% uptick from the previous year. 

The annual tourist influx from 2023 to 2027 has been predicted to climb by 7.4%. 

This uptrend is largely attributed to both leisure and business tourism, further propelled by the spike in oil prices fostering domestic ventures.

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