About Oman

The Sultanate of Oman is the third largest country in the Arabian Peninsula. It can be found between the United Arab Emirates and Yemen, and it is bordered in the west by the Kingdom of Saudi Arabia. After marking 40 years of national development in 2010, the Sultanate of Oman is continuing its steady march to progress with the implementation of various development projects throughout the country. Oman has consistently ranked first in peace and stability in the Middle East and North Africa, and it also ranks high in economic freedom among all the Arab countries.

Oman is among the few countries in the world that are considered ideal for long-term investments. It is marked by modern infrastructure; a strong industrial base; a liberal investment environment; an export-oriented economy; a stable government with transparent corporate governance; the presence of institutions that protect investors and ensure their access to the market; attractive corporate tax and tax holidays; and laws and regulations that encourage enterprise.

Basic Facts

Official Name :

Sultanate of Oman

Capital :

Muscat

Head of State :

His Majesty Sultan Qaboos bin Said

Land Area :

309,500 sq. km.

Currency :

Omani Rial (equivalent to 2.58 USD)

Local Time :

GMT + 4 hours

Official Language :

Arabic (English commonly used)

Religion :

Islam

Population :

3,219,775 (2014 Estimate)

International Reserves :

US$ 15,951 billion (Source: World Bank; Data updated: 2013)

Gross Domestic Product – GDP :

US$ 82 billion (2015 estimate)

GDP Per Capita :

US$ 21,272

GDP Growth Rate :

5%

GDP Growth Rate :

5%

GDP (Purchasing Power Parity) :

172 billion of International dollars (2015 estimate)

The World Bank has projected Oman's gross domestic product to grow five per cent in 2015, well above its 3.3 per cent average growth forecast for GCC countries.