Around 10 percent of workers in Oman’s tourism sector are now nationals, according to a statement from the Ministry of Tourism on Sunday.
The sultanate, like its neighbouring GCC countries, have been working to boost the level of locals in the private sector.
At the end of 2020, there were around 15,500 Omanis working in the tourism sector which accounted for some 142,240 jobs in the sultanate.
Oman has invested in tourism, granting 20 licenses for projects. The country is aiming to provide 15,500 direct job opportunities and 31,000 indirect job opportunities with a total of 465,000 job opportunities with the completion of these projects, the statement said.
The country’s Vision 2040 aims to increase the share of Omanis in the private sector workforce to over 40 percent. Quotas for sectors have been set, and the government has taken steps to make sure Omanisation goals are being met.
The quotas are currently set at 60 percent for transport, storage and communications; 45 percent for finance, insurance and real estate; 35 percent in the industrial sector; 30 percent for hotels and restaurants; 20 percent in the wholesale and retail trades; and 15 percent in contracting.
In January, Oman’s wealth fund said it would restructure its tourism and real estate investments with Oman Investment Authority transferring a shareholding company, a tourism development project and resorts to the Omran Tourism Development Co., also known as Omran Group.
Last June, Oman combined its two wealth funds – the State General Reserve Fund and the Oman Investment Fund – into one entity.
The sultanate – one of the Gulf’s weakest sovereigns – is aiming to add greater variety to its economy as it struggles to improve its finances. Its budget deficit has swollen to become the widest in the region, due to lower oil prices and the coronavirus pandemic.
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