Oman

Country Overview

Occupying the south-east corner of the Arabian Peninsula, Oman has a strategically important position at the mouth of the Gulf. After deposing his father in 1970, Sultan Qaboos Bin Said opened up the country, embarked on economic reforms and boosted spending on health, education and welfare. The economy is highly depended by oil, in spite Oman is a small modest producer. Other relevant sectors are agriculture, fishing and tourism, recently increased thanks to the beauties of the country, with untouched coastline, mountains, deserts, forts and ancient cities.

The country has so far been spared the militant Islamist violence that has plagued some of its neighbors. It has long been a useful Arab ally to Washington, not least because of its steady relations with Iran. Oman has not been immune from the groundswell of political dissent in the region. Protests in 2011 demanding reforms were dispersed by riot police.

The 3 million citizens have a pro capita income of US $ 26.200 (in 2011). Inflation rate is at 4% while the public debt is only at 4% of GDP. Economy is in a positive momentum and after a 4% increase posted in 2010 and 2011, the current year is projected above 6%.