The global investment compass is moving towards the Saudi aviation market
March 19, 2019
The Global Aviation Summit 2019, which takes place during the period of (25-26) of Rajab 1440H, corresponding to the (1-2) of April 2019 at the Ritz Carlton Hotel in the Capital city of Riyadh. The summit is of importance in the light of the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud. The summit highlight the pivotal role of the Kingdom plays in the air transport industry both at a regional and international level. Furthermore, it comes in line with the Kingdom’s Vision 2030 and what the Kingdom inspires to attract international investments.
The summit hosted by the General Authority of Civil Aviation (GACA) and attended by several Transport Ministers, head of civil aviation authorities and specialists in international and regional organizations dealing with the aviation sector. The summit is one of the most important events organized at a global level in air transport industry. One of the goals of the summit is to exchange information and expertise related to the aviation industry.
Furthermore, to benefit from the experiences of others in raising the level of service quality. It also gives the participants a chance to review the global practices towards improved security and safety cooperation in this vital security.
The Kingd om of Saudi Arabia is seeking to strengthen its national economy and promote the aviation industry as an important economic pillar for the country in the years to come. In addition to the fact it benefit from the strategic geographical location of the Kingdom, making it into a global hub linking all three continents (Asia, Europe and Africa). It is worth noting that all these changes comes in line with the strategic plan of GACA, to further promote the Kingdom’s Vision 2030
. A vision that aims to develop the national economy, in addition to build an effective partnership with the private sector and create investment opportunities that will place the Kingdom in an advance position in the global air transport industry.
It is worth noting that the Kingdom’s civil aviation sector has significant investment opportunities, where statistics and studies issued by GACA indicate that the number of passengers traveling through the Kingdom’s airports will continue to grow on a steady rate in the coming years.
The total number of passengers at the Kingdom’s airports during the year ending 2019 will reach (101,554,331) passengers. This translate into an increase of 129.3% compared to the previous passenger level in the last 10 years, which reached (44,287,274) million passengers.
This reflects the growing high demand and the positive outlook on the future of the sector for the coming years. It is expected that the number of passengers at the Kingdom’s airports by the year ending 2030 will reach (195,786,972) million, a growth rate of more than (92.8%) compared to the current year of 2019. All these positive indications, made these specialists in the aviation industry believe that the aviation market in the Kingdom is one of the most emerging markets in world and there are strong indications of a continued growth for years to come.
It is worth mentioning that the Global Aviation Summit 2019 highlights future policies, regulations and plans regarding safety, security and investment opportunities offered by civil aviation around the globe.
The summit will focus on innovation in aviation technology; the summit will also review the plans and the kingdom civil aviation strategy in line with the Kingdom’s Vision 2030. In addition, it will discuss a number of vital and important issues in the civil aviation sector, notably the promotion of investment opportunities, the aviation’s sector contribution to the economic growth of the country, the private sector participation and economic policies. Other summit session will also discuss air safety and aviation security.
This in addition to the role of women in aviation, smart airports and work on the improvement of customer’s experience, as well as cultivating new promising talents in the civil aviation field.