The economy of Oman is based on oil, although in recent years, proven oil reserves have been holding approximately steady, although oil production has been decreasing. Oman has made active plans to diversify its economy and is placing a greater emphasis on other areas of industry, such as tourism and natural gas. Oman is known for its popular tourist attractions.
Muscat is the capital and largest city of Oman. Muscat’s economy is dominated by trade, petroleum and porting. The more traditional exports of the city included dates, mother of pearl, and fish.
Muscat has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.