21 Pages Posted: 22 Jul 2009
Date Written: July 20, 2009
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: Suggested Citation