The quiet overachiever: Oman's household income went up almost 85% in 10 years!
Oman’s average monthly household income rose 83.9 per cent in the period between 2001 and 2011 from OMR637.53 ($1,654) to OMR1,172.258 ($3,044), according to a report by the National Centre for Statistics and Information (NSCI).
The Muscat governorate recorded the highest average household income of OMR1,459 per month with household spend averaging at OMR930 per month, the Oman News Agency said quoting the report.
There were around 278,891 Omani families in the Sultanate by mid-2013 with each household having an average of 7.5 persons. The number of families is estimated to increase by 4,700 annually, NCSI said.
The proportion of home ownership among Omani households also rose to 83 per cent, as per the 2010 census data.Around 94 per cent of Omani families owned a house in the Al Wusta governorate while 65 per cent of them owned a house in the Buraimi governorate, according to the NCSI report.
Car ownership among Omani households also saw a rise with 90 per cent of them owning a vehicle.
The proportion of people getting drinking water from improved sources also increased from 75 per cent in 2003 to 95 per cent in 2010.
The report also highlights data on personal and housing loans that Omanis received. According to NSCI, around 444,000 nationals have availed of loans from local lenders.
The sultanate’s government recently released a 2014 budget with state planning to spend OMR13.5 billion, up five per cent from the original plan, which envisaged a 29 per cent hike from 2012 expenditure.
The current budget plan is expected to slow growth in state spending after the sultanate boosted expenditure sharply between 2011 and 2013. Oman spent heavily to fund welfare programmes, aid job creation and hike public sector wages to calm protests, which demanded an end to corruption and rising unemployment.