Tourism industry is the largest industry world wide and is the main source of economic development of countries like Singapore, Bangkok and Dubai. It is also the main source of income generation for countries like Mauritius, Spain etc. Oman being the second largest country in the Middle East possessing wealth of natural resources has every thing to offer to the tourists. It has a long coastline with pristine beaches, beautiful mountains, and world's best deserts with rolling sand dunes. With breath taking Khareef festival of Salalah, Musundam in the Khasab region which is referred to as Norway of Arabia and Bhala with its forts and castles being listed in the UNESCO world heritage monuments, Oman is one among the best ten countries of the world for tourists to travel (International Travel Magazine). This monograph attempts to review the strategic approach adopted for tourism development, gives the SWOT analysis for the tourism industry and discusses the scope for future development of tourism and related sectors like hospitality, travel and aviation, training and education with special reference to Sultanate of Oman.