Future Aviation Forum 2024 To Elevate Saudi Arabia's Economic Prospects

Riyadh, SPA – The General Authority of Civil Aviation (GACA) has confirmed the aviation sector's crucial role in supporting economic growth in Saudi Arabia. This aligns with the Kingdom's Vision 2030, as highlighted in the first edition of the report on the state of the aviation sector. The report will be launched during the Future Aviation Forum 2024, held under the patronage of King Salman bin Abdulaziz Al Saud and organized by GACA from May 20 to 22, 2024.

The report reveals that the civil aviation sector contributed $53 billion to Saudi Arabia's economy. This includes $20.8 billion from aviation activities and $32.2 billion from the tourism sector. Additionally, it provided 241,000 jobs in civil aviation and about 717,000 jobs in tourism.

The report addresses significant transformations within Saudi Arabia's aviation sector. The Kingdom exceeded global average growth in 2023, achieving a 123% increase in international seat capacity compared to pre-COVID-19 levels. In contrast, global and regional recovery rates are 90% and 95%, respectively. The annual growth rate in passenger numbers reached 26%, totalling about 112 million passengers last year.

Leadership and Vision

Saudi Minister of Transport and Logistics Services and Chairman of GACA Eng. Saleh Al-Jasser stated that the Saudi aviation sector is experiencing major advancements according to international indicators. This transformation supports Vision 2030 and aligns with the National Transport and Logistics Strategy (NTLS), offering new opportunities in air transport.

Al-Jasser acknowledged the significant support from King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud for the transport and logistics system.

Future Aviation Forum 2024

The Future Aviation Forum 2024 will gather five thousand aviation experts and leaders from 100 countries. Participants will include global airline CEOs, manufacturers, airport operator executives, industry leaders, and regulators to discuss the future of international air transport.

-- SPA

With inputs from SPA