Saudi Arabia’s Aviation Report: A Vision 2030 Milestone

Unveiling the Impact of Aviation on Economic Growth

The Kingdom of Saudi Arabia’s General Authority of Civil Aviation (GACA) is poised to present its first-ever 2024 State of Aviation Report at the upcoming Future Aviation Forum (FAF 2024) in Riyadh. The report is expected to shed light on the pivotal role the aviation industry plays in propelling the nation’s economic progress and in fulfilling the aims of Vision 2030.

Fostering economic development

Compiled by GACA to align with its strategic regulatory responsibilities, the report encapsulates the aviation sector’s contributions to the Saudi economy, including employment prospects it has engendered within airlines, airports, cargo, and logistics domains.

According to the document, aviation activities generate a significant $20.8 billion, with an added $32.2 billion originating from tourism-related economic endeavors.

The industry not only directly sustains 241,000 jobs but also supports roughly 717,000 positions in the tourism sector.

In 2023, the Saudi aviation sector experienced a 26% surge, eclipsing the growth rates of the global aviation industry by attaining 123% of international pre-pandemic seat capacity. This outpaces the average global and regional recovery rates of 90% and 95%, respectively.

Moreover, the Kingdom witnessed a notable climb in passenger volume, reaching 111.7 million over the year.

“The Saudi aviation sector is offering unparalleled opportunities for the worldwide aviation community, securing significant advances in global standings in accordance with Vision 2030 and the National Strategy for Transport and Logistics Services,” remarked the Minister of Transport and Logistics Services and GACA’s Chairman, HE Saleh Al-Jasser. He emphasized that the report underscores the sector’s contributions to Saudi society and its economy.

A comprehensive strategy

GACA’s President, HE Abdulaziz Al-Duailej, indicated that the report emphasizes the Kingdom’s dedication to fostering a robust, integrated, and high-performing aviation sector. This encompasses airlines, airports, cargo, logistics, human capacity, and training systems.

“GACA has crafted this report to fulfill its mandate as a strategic aviation regulator. It measures and documents the sector’s advancements in alignment with the Saudi Aviation Strategy’s goals. The report also guides GACA’s regulatory efforts, assessing the impact of new regulations on fostering competition, value, and choice within Saudi Aviation,” he added.

The FAF 2024 forum is anticipated to attract over 5,000 specialists and leaders from the aviation industry, hailing from more than 100 countries. This includes top executives from international carriers, prominent global manufacturers, airport authorities, industry front-runners, and regulatory body representatives.

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