Riyadh’s General Authority of Civil Aviation (GACA) is preparing to unveil an ambitious strategy for the General Aviation sector during the Future Aviation Forum (FAF 2024) scheduled for May 2024. This strategy aims to propel the sector’s contribution to the national GDP to $2 billion by the year 2030.
The comprehensive plan will encompass the business jet market, including charter, private, and corporate jets, aligning with Saudi Arabia’s vision to establish itself as a leading destination for high-value business and tourism. This move is in tandem with the nation’s updated tourism objectives, which now aim to attract 150 million visitors by the end of the decade, a significant increase from the initial target of 100 million.
GACA’s President, Abdulaziz Al Duailej, highlighted the importance of general aviation in enhancing key economic sectors such as tourism, business, and entertainment events. “The General Aviation roadmap will energize the sector, reshaping infrastructure and regulations and fostering growth, visibility, and improvement of general aviation services,” Al Duailej articulated.
The roadmap is designed to bolster the contributions of private aviation stakeholders, including aircraft owners, leasing parties, investors, operators, and service providers. This will be achieved through synchronized infrastructure investments and the simplification of regulatory procedures. This initiative is a continuation of GACA’s October 2023 commitment to ease economic licensing prerequisites for industry participants to stimulate the general aviation domain.
Slated to return to Riyadh from May 20-22, 2024, FAF 2024 will congregate over 5,000 industry specialists and leaders from more than 100 nations. Following its previous success, where it facilitated the signing of over 50 agreements and deals worth $2.7 billion, the Forum is anticipated to witness significant commercial announcements, including the General Aviation roadmap, and host expert panel discussions focused on the sector.
Themed ‘Elevating Global Connectivity,’ the Forum will serve as a nexus for global aviation dialogue and development.