Executive Summary Entrepreneurial endeavors are crucial for economic growth, driving innovation, technological advancement, and job creation. In Oman, promoting entrepreneurship is a government priority, and access to data is important for analyzing this sector. The Global Entrepreneurship Monitor (GEM) has been a leader in global entrepreneurship studies since 1999, providing insights into entrepreneurial activities across over 50 economies. Since joining GEM in 2019, Oman has participated in comprehensive surveys, including the 2024 GEM Adult Population Survey (APS) and National Entrepreneurship Survey (NES), interviewing over 2,000 adults and 46 experts. Key findings for 2024/2025 GEM data include: Entrepreneurial Aspirations: In 2024, 85.5% of employed adults aspire to entrepreneurship, with 81.2% viewing it as a good career choice. Intention to Start a Business: Intentions decreased from 66.4% in 2023 to 41.6% in 2024, despite an increase in perceived opportunities from 68.7% to 73.8%. Total Early-Stage Entrepreneurial Activity (TEA) and Established Businesses (EB): EB increased to 4.4%, with a slight drop in TEA from 10.6% in 2023 to 9.2% in 2024. Business closures have notably decreased from 10.6% in 2023 to 7.4% in 2024. In contrast, the exit rate increased from 2.4% in 2023 to 3.1% in 2024. Gender Disparity: There is a higher percentage of males involved in all entrepreneurship phases compared to females (e.g. TEA: 11.9% versus 6.5%; EB: 5.5% versus 3.3%; Intention: 50.4% versus 33.3%) Motivations for Entrepreneurship: The continuity of family tradition was the first motivation for entrepreneurship in Oman. However, many entrepreneurs are driven by financial incentives, with 43% seeking wealth generation and to earn a living, followed by making a difference to the world with 40%. Sector Distribution: The consumer-oriented sector dominates (63.6%), while the extractive industry is very low with only 1.7%. Job Creation: 52% of TEA and 50.5% of established businesses have 1-5 employees, with many expecting to maintain this in the next five years. Innovation: Omani entrepreneurs are primarily focused on local markets, with only 2.1% offering novel innovations globally. Similarly, only 2.2% of adults are starting or running a new business using technology or processes that are new to the international market. Societal and Environmental Awareness: awareness levels ranging from 65% to 75%, with 77.9% of established businesses prioritizing social/environmental impact over profit. However, only 27.2% to 33.1% take concrete actions to reduce their footprint. Use of Technology: 69.2% of TEAs and 69.0% of EBOs rated social media as very important for digital engagement. 41.4% of EBOs expect that AI adoption will be very important in the next three years, compared to 33.8% of TEAs. Both groups see AI as valuable for productivity (TEA: 62.5%; EBO: 62.9%) and innovation (TEA: 61.8%; EBO: 61.6%). EBOs are more optimistic about revenue growth (59.1% vs. 52.8%), while TEAs lean toward customer personalization (58.9% vs. 54.2%). In terms of entrepreneurial intentions, the sultanate of Oman ranks favorably, third among MENA countries. However, it continues to face challenges with low TEA and established business rates. Additionally, while the proportion of informal investment in entrepreneurs has declined to 11.1%, the median investment amount has increased. The 2024 National Entrepreneurship Context Index (NECI) score improved to 5.7, with an improvement of 3 points compared to last year. This reflects government initiatives to support entrepreneurship. However, challenges remain in access to finance and regulatory burdens. In conclusion, the GEM Oman 2024 report highlights growth in entrepreneurship while identifying key weaknesses that require attention, offering valuable recommendations for future development in the entrepreneurial ecosystem.