Future of Aviation Conference 2024 Supports Economic Growth in Saudi Arabia

The General Authority of Civil Aviation confirmed the aviation sector’s crucial role in the Kingdom’s economic growth and Vision 2030 goals. The report on the sector’s status, launched at the Future of Aviation 2024 conference, highlights the significant role. The conference is organized by the authority from May 20 to 22 in Riyadh, focusing on “Enhancing global connectivity.”

The report reveals that the civil aviation sector contributes $53 billion to the Kingdom’s economy. It includes $20.8 billion through aviation activities, $32.2 billion in the tourism sector. It also provides 241,000 job opportunities in the civil aviation sector, and 717,000 other job opportunities in the tourism sector.

The report discusses significant changes in the Kingdom’s aviation sector. In 2023, the Kingdom surpassed global growth averages. International seat capacity rose by 123% post-pandemic, exceeding global and regional recovery rates of 90% and 95%. Passenger numbers grew by 26%, totaling approximately 112 million last year.

Engineer Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics and Chairman of the Board of Directors of the General Authority of Civil Aviation, highlighted the significant progress of the Saudi aviation sector. Additionally, he emphasized the continuous evolution to enhance transport services, benefiting from unparalleled opportunities. He also acknowledged the substantial backing from the Custodian of the Two Holy Mosques and Prince in bolstering the Kingdom’s aviation sector.

Engineer Al-Jasser added: “The first State of Aviation report highlights the contributions made by the aviation sector to the Saudi society and economy.”

The report, which will be officially launched during the third edition of the Future of Aviation Conference, clarifies the size of the economic contributions of the aviation sector in the Kingdom. It  also highlights the amount of jobs it provides through airlines, airports, shipping and services.

The Future of Aviation 2024 conference brings together 5,000 aviation experts and leaders from 100 countries. It includes CEOs of global airlines, major global manufacturers, CEOs of airport operators and regulators, in order to reshape the future of international air transport.

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