Oman

Oman is in the Middle East and borders the Arabian Sea, the Persian Gulf, and the Gulf of Oman. It is between the United Arab Emirates and Yemen. It is slightly smaller than the state of Kansas, occupying 309,500 sq. km. It has a population of 3.15 million, growing at a rate of 2.06%. Its capital and largest city, Muscat, is home to 634,000 people. The population is mostly Ibadhi Muslim, with Sunni Muslims and Hindus also making up a significant portion of the population. The people are ruled by a monarchy. The official language is Arabic, and the currency used is the Omani Rial.

Oman has a middle-income economy that relies heavily on a dwindling supply of oil. Diversification and industrialization have been recent economic goals for the government, with the goal of reducing oil to 9% of GDP by 2020. The gas and tourism industries have been targeted as crucial sectors for economic diversification. Continually-rising oil prices around the world have given Oman increased revenue to invest in these economic initiatives. Oman’s main exports are oil, fish, and metals. Its primary trade partners are China, South Korea, and Japan. Oman’s economy is almost equally split between service and industrial sectors, with agriculture only accounting for around 1% of GDP. Therefore, Oman must import essentially all its food supplies

Demographic Data Economic Data Cultural & Other Data
Area (sq. km.) 309,500 GDP (PPP, $bn) 91.54 Capital Muscat
Population (million) 3.154 GDP Real Growth (%) 5 Other Large Cities Ad Dakiliyah
Population Growth(%) 2.06 per Cap GDP ($) 29,600 Primary Language Arabic
PopulationUnder15yrs (%) 30.6 Prime Lending Rate (%) 5.65 Urbanization 73.4
Population below poverty line (%) NA Inflation Rate% 2.9 Urban Growth 2.23
Agricultural Workers(% of the population) NA Unemployment% 15 Literacy (population %) 81.4
Industrial Workers(% of the population) NA Foreign Direct Investment ($bn) NA Education spending% of GDP 4.3
Service Workers(% of the population) NA Debt-External($bn) 10.18 CPI Score(1-100)* 47
Labor Force (mil) 968800 Exports ($bn) 52.04 Corporate Income Tax % 12
    Imports ($bn) 26.49 Ease of Doing Business Ranking ** 47

Click on the links below for information on Franchising in Oman

Doing Business in Oman(2012)

Expanding Your Brand in the Middle East: A Fresh Perspective(2012)

Taking Your Brand to the Middle East

Building Goodwill and U.S. Brand Awareness in the Middle East

* CPI Score is published by Transparency International and relates to the perceptions of the degree of corruption as seen by business people and country analysts and ranges between 100 (highly clean) and 0 (highly corrupt).

**Ease of Doing Business Ranking is determined by the World Bank Group and is ranked out of a possible 185 countries.www.doingbusiness.org

Most recent statistics have been taken from the CIA World Factbook unless noted otherwise.