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Diversification Of The Non-oil Sector Will Boost Economic Growth In The Oman Economy

By Author: Lucintel
Total Articles: 393

The Oman economy is dominated by industrial sector which contributed approximately 54.9% to the total GDP in 2015. Mining and quarrying is the major contributing sector with 21.2% of the country’s GDP. Oman is expected to start a number of large infrastructure projects, including the building of roads, trade and industrial centers, hospitals, and airports. Oman has the 9th (five year) Development Plan, which provides direction for prioritizing capital expenditure, encouraging private investment and creating jobs for nationals in the private sector. The Oman government has diversified the economy from oil sector to non-oil sector. The non-oil sectors such as retail sector, healthcare sector, education, residential housing, and banking and financial sector is expected to driver economic growth during the forecast period.
Lucintel, a leading global management consulting and market research firm, has analyzed the political, economic, social, technological, legal, and environmental factors of Oman, and has come up with a comprehensive research report “PESTLE Analysis of Oman 2016.” This report provides an analysis of the Oman economy from historical, current, and future perspectives. SWOT analysis, forecast, scenario analysis, and risk analysis of Oman is also included in the report. The report also includes forecast of the economic growth through 2021.
The report highlights various drivers and challenges which have influence on development decisions of the economy. Oman is considered to be one of the most democratic and liberal countries in the Middle Eastern region. Oman is a politically stable country which follows constitutional monarchy. Oman has the 25th largest oil reserves and the 27th largest natural gas reserves in the world. Oman has good international and regional relations; it has also strong international assessments of the business environment. Oman has the best equipped armed forces in the Gulf region. Oman armed forces have close ties with foreign armies and forces are frequently trained and briefed by the British Army. Industrial sector is the main sector, which is driving the economic growth of Oman. The country, however, is facing social challenges that include increasing crime rate, which is raising the level of corruption. Oman is highly dependent on its oil revenue, which is one of the main challenges. If oil prices decline, it directly affects the country’s GDP. The other challenge for Oman is low R&D investment.

This 78-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency. To learn more, visit www.lucintel.com. You can also contact us through Live Chat in its website to answer your questions in real time. Lucintel offerings include Strategic Growth Consulting, Commercial Due Diligence Report, Business Strategy Consulting, Industry/Market Analysis and Mergers & Acquisitions.

About Lucintel
Lucintel, the premier global management consulting and market research firm creates winning strategy for growth—whether you need to understand market dynamics, identify new opportunities, or increase your profitability. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a variety of industries. Over the last 15 years, Lucintel has served over 1,000 corporations in 70 countries. For further information, visit www.lucintel.com.

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