Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Oman economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Oman best banks and safest banks are also available.

Guided by the foreign policy principle “Friends of all, enemies of none”, the Sultanate of Oman is often often characterized has a haven of peace in a turbulent region. Despite its heavy reliance on revenues from oil and gas, Oman is actively striving to expand its economic base and diversify its revenue streams, with a particular focus on sectors such as manufacturing, technology, and tourism, among others.

To this extent, this nation of fewer than 5 million is also developing incentives for foreign investors, including tax benefits and labor incentives. Against the backdrop of the country’s political stability and positive macroeconomic environment, however, Oman still faces challenges, including vulnerability to  global energy price fluctuation, dependence on foreign workers and a significant debt burden.

The chart at left compares Oman’s debt-to-GDP ratio to the regional average. It illustrates how the country has been successful at keeping its debt burden in line with its national productive capacity.