Oman Daily Observer: According to the latest World Travel and Tourism Council (WTTC) report ‘The 2008 Travel and Tourism Economic Research on Oman', issued by the World Travel and Tourism Council (WTTC) ranks Oman's tourism economy among the fastest growing in the world, according to Usama bin Karim al Haremi, Head of Corporate Communications and Media of Oman Air.

The travel and tourism industry is expected to grow from RO 2.496.5 billion in 2008 to RO 3.363 billion by 2018. The sector is expected to contribute directly 2.1 per cent to the Gross Domestic Product (GDP) in 2008 (RO 362.8 million), rising in nominal terms to RO 617.2 million (3 per cent of total) by 2018. Oman's travel and tourism sector should grow from 9.8 per cent (RO 1.678.6 billion to 11.1 per cent (RO 2.265 billion) in this same period, according to the report.

In real terms, the Travel and Tourism (T&T) economy is expected to grow by 5 per cent per annum between 2009 and 2018. Employment generated by the sector is estimated at 104,000 jobs in 2008, 10.2 per cent of total employment, or 1 in every 9.8 jobs. By 2018, this should total 141,000 jobs, 12.1 per cent of total employment or 1 in every 8.2 jobs. The 30,000 T&T direct industry jobs account for 3 per cent of total employment in 2007 and are forecast to total 49,000 jobs or 4.2 per cent of the total by 2018.

Exports make up a very important share of Travel and Tourism's contribution to GDP. Of Oman's total exports, Travel and Tourism is expected to generate 13.8 per cent (RO 1.487 billion) in 2008, increasing to RO 1.837 billion (16 per cent of total) in 2018. T&T capital investment is estimated at RO 241.3 million or 6.5 per cent of total investment in year 2008. By 2018, this should reach RO 438.1 million or 9.1 per cent of total. Government T&T operating expenditures in Oman in 2008 are expected to total RO 37.7 million, or 1.2 per cent of total government spending. In 2018, this spending is forecast to total RO 54.2 million, or a 1.3 per cent share.

According to Al Haremi, Oman has become the newest entrant to the Travel and Tourism Competitiveness Index (TTCI) prepared by the World Economic Forum (WEF), which ranks countries based on 71 criteria and variables. In its Travel and Tourism Competitiveness Index (TTCI) Report 2008, the World Economic Forum said. The entire Gulf region was less competitive in developing its travel and tourism industries than last year. The UAE, Qatar, Bahrain and Kuwait all declined in their rankings, while Oman and Saudi Arabia were new entrants in the survey of 130 countries.

The TTCI report measures factors and policies which make it attractive to develop the travel and tourism sector in different countries, based on policy rules and regulations, environmental sustainability, safety and security, health and hygiene, sector prioritisation, price competitiveness, human capital, sector affinity and natural and cultural resources.