The Omani economy has, like other Gulf economies, grown at an accelerating rate during the past five decades, fueled by oil revenues, the wise management of available resources and the use of those resources to build the constituents of a modern state. Nevertheless, the growth that has been achieved through direct reliance on oil revenues has resulted in several challenges. The Policy Report dives into determinants of economic diversification in the Gulf States using the example of the Sultanate of Oman.