Oman Approves 19 Integrated Tourism Licenses and Commits $11.37 billion to Hospitality and Real Estate Investments
In a bid to bolster its economy, Oman has given the green light to 19 integrated tourism licenses, signaling its intent to invest a substantial $11.37 billion in the hospitality and real estate sectors. This ambitious plan will result in the development of major tourism and real estate projects, which will collectively introduce over 16,500 hotel rooms and 42,500 housing units across the country.
The focus on integrated tourism complexes will not only yield more than 80 new hotels but will also present opportunities for foreign individuals to purchase real estate in Oman. These integrated tourism complexes act as catalysts for the growth of the tourism industry by offering a combination of hotels, recreational and commercial facilities, and real estate units. Consequently, this approach contributes to the diversification of tourism within the country.
This comprehensive strategy aims to enhance the tourism sector by increasing the number of hotel rooms, improving the quality of services, and expanding recreational facilities. Simultaneously, it creates both direct and indirect employment opportunities, further stimulating economic growth in Oman.
