Oman Risk Management Report: Massive rise in spending as economy continues to grow, social pressure mounts

Oman has been governed since 1970 by Sultan Qaboos Bin Said Al- Said, the fourteenth ruler of the Al-Busaidi dynasty, which was founded in 1750. Unlike other Gulf monarchies, Oman’s sultan does not rely on his relatively small family, but on a variety of allies typically drawn from the merchant elite. Qaboos, who deposed his father in a bloodless coup, was briefly married but has no children or heir apparent; his successor is expected to emerge from a small pool of family members.