Entrepreneurship in Oman

Yochanan Shachmurove ()

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

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 (search for similar items in EconPapers)
JEL-codes: D23 E0 F14 F16 F23 F3 G2 K33 L26 L83 O1 O53 P1 P2 Q4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-cwa, nep-ene, nep-ent and nep-tur
Date: 2009-07-20

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