By Kabeer Yousuf -
MUSCAT — As a major chunk of leading companies in Oman are getting their advertisements, designing and even printing works out of the country, the Sultanate is losing several millions of rials to its neighbouring countries every year.
This revenue which is otherwise supposed to be circulating in the country’s economy is pumped out by companies as diverse as banking to telecommunication and from automotive to hospitality and chartered accountants firms.
It is said that while some firms are paying RO 25,000 every month against ‘creativity fees’, some major business houses which make use of Sultanate’s trade licence, related entity documentations and other relaxed facilities are pumping out nearly RO 4,000-5,000 each year to the glitz and glam of another country.
Whopping 80 per cent of the total expenditure on this is going out of the country and the players in the country are vying for the 20 per cent left behind.
“The reason is nothing but acute dearth of quality work to a great extent,” avers Louai Alasfahani, a wizard who took the glory of Arab design at the pinnacle of global attention when he was chosen a member of the grand jury at the New York Advertising Festival 2012, representing Oman for the first time.
Continue reading ‘Oman Advertising industry lose huge revenue’
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