Saudi Arabia Set To Unveil $2 Billion Aviation Road Map In Major GDP Boost
Saudi Arabia is set to unveil plans to boost general aviation sector’s GDP contribution to $2 billion.
The General Authority of Civil Aviation (GACA) plans to unveil the General Aviation Roadmap during the upcoming Future Aviation Forum 2024.
Held under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the forum takes place May 20–22 under the theme “Elevating Global Connectivity”.
Saudi general aviation sector boost
The roadmap aims to significantly increase the general aviation sector’s contribution to the GDP, targeting a tenfold growth to reach $2 billion by 2030.
It encompasses the business aircraft sector, including private charter flights and corporate aviation, and will support aircraft owners, investors, operators, and service providers.
This roadmap further strengthens the Kingdom’s position as a world-class destination for business and tourism.
The country revised the national tourism target in October 2023, aiming to attract 150 million visitors by 2030, up from the previously set goal of 100 million.
GACA President Abdulaziz Al Duailej emphasised the importance of the general aviation sector for fostering high-value segments of the Saudi economy, such as tourism, business events, and entertainment.
He highlighted that the General Aviation Roadmap will play a key role in advancing the sector within the Kingdom through infrastructure development, improvements to legislative regulations, and enhancing services offered in the market.
Saudi Arabia
This announcement follows recent measures by GACA to boost the general aviation sector.
In October 2023, GACA removed “empty-leg” restrictions, streamlined economic licenses for air transport operations, and relaxed requirements for airport operators and investors.
The Future Aviation Forum gears up for a global summit, bringing together more than 5,000 aviation leaders from more than 100 countries.
Ministers, manufacturers, airline representatives, and airport executives will convene for key announcements, agreements, and deals.
Dedicated discussions will delve deeper into this critical industry segment.
