Access to finance can fuel growth of Oman’s hospitality sector

UNIQUE SELLING PROPOSITION: Sultanate must leverage its unique advantages to attract investment inflows into the tourism industry, says billionaire developer

Oman’s political and social stability, among other attributes, make it a preferred destination for international investors seeking to develop hotels and tourism resorts that leverage the country’s natural beauty, according to a prominent developer.

Samih Sawiris (pictured), Chairman of Orascom Development Holding, the Switzerlandheadquartered developer of integrated tourism destinations, said the Sultanate enjoys significant advantages over competing destinations in the region and must exploit these factors to attract investment into the tourism sector.

“From the perspective of an investor, I can tell why investors will find Oman a better place to invest in — more than other places in the Middle East. The foremost (factor) is political and social stability, which gives investors (the assurance) of certainty, which is a key aspect when investors address key factors,” said Sawiris. The billionaire developer made the comments during a panel discussion held as part of a forum on free zones and economic hubs held in the city last week. Orascom has sizable stakes in Jebel Sifah and Hawanah Salalah — both Integrated Tourism Complexes (ITCS) developed in partnership with

Omran, the Omani government’s tourism and hospitality development flagship.

The “stability” factor is one of Oman’s biggest fortes, the hotel magnate said. “We are working in nine countries, but Oman ranks as the best place because of its political stability, stable regulations and stable