Oman is located 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 of its food supplies.
|Demographic Data||Economic Data||Cultural & Other Data|
|Area (sq. km.)||309,500||GDP (PPP, $bn)||91.54||Capital||Muscat|
|Population (million)||3.154||GDP Real Growth (%)||5||Other Large Cities||Ad Dakiliyah|
|Population Growth (%)||2.06||PerCap GDP ($)||29,600||Primary Language||Arabic|
|Population Under 15yrs (%)||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 population)||NA||Unemployment%||15||Literacy (population %)||81.4|
|Industrial Workers (% of population)||NA||Foreign Direct Investment ($bn)||NA||Education spending % of GDP||4.3|
|Service Workers (% of population)||NA||Debt-External ($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)
* 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.
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