Future Aviation Forum 2024 Highlights Role of Aviation Sector in Supporting Saudi Arabia Economic Growth

May 18, 2024

The General Authority of Civil Aviation (GACA) has confirmed that the aviation sector plays a vital role in supporting economic growth in the Kingdom of Saudi Arabia. It achieves the goals of the Kingdom's Vision 2030, according to the statistics included in the first edition of the report on the state of the aviation sector in the Kingdom. The report will be launched during the Future Aviation Forum 2024, which is held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and organized by the General Authority of Civil Aviation from May 20 to 22, 2024. The forum will be under the theme "Enhancing the Level of Global Connectivity.

 The report reveals that the civil aviation sector contributed $53 billion to the Kingdom's economy, including $20.8 billion through aviation activities and $32.2 billion in the tourism sector, providing 241,000 jobs in the civil aviation sector and about 717,000 other jobs in the tourism sector.

 The report addresses the significant transformations taking place in the aviation sector in the Kingdom of Saudi Arabia. The Kingdom exceeded the global average growth during 2023, achieving a growth in international seat capacity of 123% compared to what it was before the COVID-19 pandemic, while the average global and regional recovery rates are 90% and 95%, respectively. The annual growth rate in passenger numbers reached 26%, with a total of about 112 million passengers last year.

 Saudi Minister of Transport and Logistics Services and Chairman of the Board of Directors of GACA Eng. Saleh Al-Jasser said that the Saudi aviation sector is witnessing major leaps according to international indicators and a constant transformation in support of the Kingdom's Vision 2030. It is also in line with the National Transport and Logistics Strategy (NTLS) and provides unprecedented opportunities in the air transport sector. Al-Jasser noted the great support the transport and logistics system receives from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia.

 The Future Aviation Forum 2024 brings together five thousand aviation experts and leaders from 100 countries, including global airline CEOs, global manufacturers, airport operator executives, industry leaders, and regulators, to reshape the future of international air transport.