Entrepreneurship in Oman

21 Pages Posted: 22 Jul 2009  

Yochanan Shachmurove

City University of New York, CUNY City College of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Date Written: July 20, 2009

Abstract

The Sultanate of Oman has a diversified economy, unlike many of its neighboring nations that rely almost entirely on oil revenues. Natural gas and several non-energy business sectors, such as tourism, fishing, light manufacturing, and agriculture are expanding rapidly. The Omani economy is one of the freest in its region. A relatively stable government and low taxes make Oman a desirable location for entrepreneurial ventures. Furthermore, foreign direct investment is welcomed. Tourism is the most attractive area for international entrepreneurs. Oil revenues, coupled with increasing foreign investment are likely to both diversify the Omani economic base and strengthen it.

Keywords: Entrepreneurship, Small and Medium Sized Enterprises (SMEs), Business Ventures, Oman, Middle East; Oil, Tourism, Natural Gas, Foreign Direct Investment, Index of Economic Freedom, Oman-U.S. Free Trade Zone

JEL Classification: D23, E0, F14, F16, F23, F3, G2, K33, L26, L83, O1, O53, P1, P2, Q4

Suggested Citation

Shachmurove, Yochanan, Entrepreneurship in Oman (July 20, 2009). PIER Working Paper No. 09-026. Available at SSRN: https://ssrn.com/abstract=1436439 or http://dx.doi.org/10.2139/ssrn.1436439

Yochanan Shachmurove (Contact Author)

City University of New York, CUNY City College of New York - Department of Economics ( email )

160 Convent Avenue
New York, NY 10031
United States
212-650-6202 (Phone)

The University of Pennsylvania - Department of Economics ( email )

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Philadelphia, PA 19104
United States
215-898-1090 (Phone)
215-573-2057 (Fax)

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