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Omran expects tourism sector investment to grow 11.7 per cent

Omran expects tourism sector investment to grow 11.7 per cent

Leading provider of business investment consultancy services, The Business Year (TBY), and Eng. Wael Al Lawati, chief executive officer of Omran, held a business meeting to discuss Omran’s projects and activities in Oman.

During the meeting, TBY and Eng. Al Lawati discussed the growth that Oman’s tourism sector is witnessing — the tourism and travel sector in Oman is currently booming with an upsurge in international tourists. Investment in the sector in 2013 was at OMR254.6 million ($661.30 million), which is predicted to rise by 11.7 per cent over 2014. Eng. Wael Al Lawati spoke about Omran’s role in building up the sector and consolidating Oman’s brand internationally: “We have recently restructured the company to allow us to grow, and we have set up new subsidiaries for hospitality management, project management, and heritage projects, as the government is very keen on moving into developing forts and castles. The idea is to build an Omani brand that showcases Omani talent and products.”

They also discussed the potential of the meetings, incentives, conferences, and exhibitions (MICE) segment for Oman. The new Oman Convention and Exhibition Centre will mark a new era for the Sultanate: “Because of the lack of suitable venues in the past, all we could do was have hotel-based events, which restrict you in terms of size. You can have 500 to 600 people, but you cannot go beyond 1,000. Our convention centre project is placing us in a totally different league,” said Al Lawati.

Infrastructure development

Another key area of discussion focused on the strategic development of air infrastructure throughout the country and how it will support Omran’s activity: “It helps that Oman is investing in Oman Air, which is now flying to all major gateway cities. The airport will be ready in time for our events, which takes us into the professional league, as we currently have capacity issues in that respect.”

The complete interview with Eng. Al Lawati will be featured in The Business Year: Oman 2015.

The Business Year (TBY) is a leading provider of business information and a publisher of annual trade and investment resources.

The Business Year (TBY) meets the world’s top political, commercial, and industrial leaders to deliver targeted information, in-depth analysis, and strategic advice to the global business community on economic trends and investment opportunities.