Oman's Economic Future Hinges on Diversifying Away from Natural Resources
Countries relying heavily on one natural resource face risks like price fluctuations and demand changes. Oman is trying to move away from depending solely on mining and quarrying. The study looked at different sectors in Oman's economy from 1998 to 2016. It found that investing in sectors like agriculture, manufacturing, and finance can help Oman grow. The study also showed that these sectors are more connected to each other than the mining sector. To keep growing, Oman needs to shift focus and invest in these productive sectors.