Oman’s GDP is projected to grow by 3.4 percent this year, surpassing many global economies. This underscores the resilience of the national economy and international market confidence, according to Qais bin Mohammed Al Yousef, Oman’s minister of Commerce, Industry, and Investment Promotion.
In his opening speech at the Advantage Oman Forum in Muscat, Al Yousef stated that foreign direct investment (FDI) inflows surged by 16.2 percent in Q3 2024 compared to the same period in 2023. Moreover, Oman’s credit rating was upgraded to BBB- with a stable outlook by Standard & Poor’s.
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Organized by the Ministry of Commerce, Industry, and Investment Promotion, the event gathered over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, highlighting Oman’s status as a promising investment destination. The minister emphasized that this forum represents a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors. The forum takes place amid significant growth in Oman’s economic and investment fields, bolstered by rising international indicators.
Economy Middle East reported in March that the inflation rate in the Sultanate of Oman increased by 1 percent in February 2025 when compared to the same month in 2024, based on the 2018 base year, according to the Consumer Price Index data from the National Centre for Statistics and Information (NCSI).
Oman’s real GDP saw an increase of approximately 1.9 percent in the first half of 2024 compared to the same period last year, according to the Central Bank of Oman (CBO). This growth is mainly driven by a 3.6 percent rise in non-oil activities.
