The economy of Oman is projected to reach $95 billion by 2018. The industrial sector is the fastest growing sector holding notable contribution in Oman's GDP.
Online PR News – 31-March-2014 – Irving/Texas – The economy of Oman is projected to reach $95 billion by 2018. The industrial sector is the fastest growing sector holding notable contribution in Oman's GDP. The economy sustained well during global economic recession, when other economies suffered due to its strong economic policies. In recent years, the major focus of the Oman economy is to stretch its dimensions in terms of economic growth and enter the other sectors.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the political, economic, social, technological, legal, and environmental risks associated with the country and presents its findings in “PESTLE Analysis of Oman 2013”.
Lucintel provides a brief overview of the major challenges faced by the Oman’s economy. Oman’s overly oil-reliant economy makes growth rates highly volatile and prone to speculations. Advanced economies are vulnerable to second recession and emerging economies are also slowing down. There are chances that oil prices might decline. Social threat can be an area of challenge for Oman as the unemployment rate is rising in the country, resulting in negative impact on GINI.
The report gives a concise overview of the key drivers as well. The crude oil and natural gas industry is the backbone of Oman's economy and features world-class refining, storage, and distribution infrastructure. Heavy investment in airport and port operations in the southern Oman, near border with Yemen, is expected which will possibly stimulate the domestic economy and create substantial export opportunities for foreign businesses.
The economy is witnessing the increasing pressure on the natural fossil fuel resources due to its growing population. To conserve its oil and gas reserves, the Oman government has introduced new policy reforms and is also focusing on diversifying its base by shifting its focus on non-oil sector and service sector.
This report will be helpful for strategic analysis done by CEO, managers, bankers, and industrialist who wants to know about political, social, and economic outlook of Oman. Lucintel offerings include SWOT Analysis, Target Screening, M & A and Due Diligence.
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