Oman » Outlook

International property brokers forecast that Omani projects like Blue City Project and Wave Project are the main way to achieve the designed vision which were prepared in the vision 2020 policy document.

In that 2020 policy document Oman targets doubling the direct contribution from the tourism sector to GDP from the current 2.5% to 5.0% by 2020. Forecast also reveals that the manufacturing sector is another player in the vision 2020 diversification plan. 

Omani government has now started paying attention on light manufacturing and manufacture of household goods as one of the major areas of growth.
Forecast tells the GDP growth at the rate of 7.3% in 2009 and 3.7% in 2010 followed by 3.6 in 2011 and 3.9 in 2012.

The latest Oman Oil and Gas Report forecasted by International Property Brokers shows, the country will make up 0.67% of Middle East regional oil demand by 2012, while providing 2.54% supply. Regional oil production is set to rise to 28.94mn b/d by 2012. 

The forecast reveals that, between year 2007 and 2018, the oil consumption is set to increase by 71%. The Vision Conference Oman 2020, held in 1995, made some targets for the coming years to secure the prosperous future and growth of Oman.

These targets include, economic and financial stability, to reshape the role of government in the economy and to broaden the private sectors participation, diversification of economic base and sources of national income. Besides these it also include globalization of Omani economy, upgrading the skills of Omani workforce and development of human resources.