Saudi Arabia Unveils Groundbreaking Aviation Report at Future Aviation Forum
Saudi Arabia made headlines as it revealed its first-ever “State of Aviation” report at the highly anticipated Future Aviation Forum. Industry leaders from around the world gathered to witness the unveiling of this groundbreaking report, which shed light on the aviation sector’s significant contributions to the Kingdom’s economic growth.
Minister of Transport and Logistic Services Highlights Aviation’s Unprecedented Importance
During the opening ceremony of the three-day event in Riyadh, Saudi Minister of Transport and Logistic Services, Saleh Al-Jasser, emphasized the unprecedented importance of aviation in driving economic prosperity. Al-Jasser showcased how the aviation sector contributed a staggering $21 billion to Saudi Arabia’s GDP in 2023, while also generating an additional $32.2 billion in tourism receipts, thus positively impacting other key areas of the economy.
Transformative Opportunities in Saudi Arabia’s Aviation Sector
Al-Jasser invited the world to share in Saudi Arabia’s aviation transformation, seeking private sector partners with expertise to help achieve the Kingdom’s ambitious goals. The minister reflected on the progress made in the aviation industry over the past two years, highlighting how industry leaders collaborated to overcome a major crisis, address global challenges, and unlock new opportunities.
New Global Policies and Aviation Deals Unveiled
The collaboration among industry leaders led to the introduction of new global policies, announcement of nearly $3 billion in aviation deals, signing of the Riyadh Aviation Declaration, and the commencement of a new golden age for aviation. The State of Aviation report by GACA revealed that the Kingdom’s aviation sector contributed $53 billion to the economy and supported approximately 958,000 jobs nationwide.
GACA’s General Aviation Roadmap and Future Projections
GACA introduced its General Aviation Roadmap during the forum, aiming to foster the development of Saudi Arabia’s business jet and private industry. With targeted investments in six specialized general aviation airports and other initiatives, the roadmap projects the sector’s contribution to GDP to reach around $2 billion and the creation of 35,000 new jobs by 2030.
Significant Growth and Development Plans for Saudi Airports
Abdulaziz Al-Duailej, President of the General Authority of Civil Aviation, emphasized the importance of the forum in enhancing connectivity and discussed Saudi Arabia’s expansion and development plans for airports. The current capacity of Saudi airports, set at 120 million passengers, is poised to exceed 300 million, with major expansions planned for key airports like King Salman Airport in Riyadh and King Abdulaziz Airport in Jeddah.
Privatization as a Key Strategy for Enhancing Connectivity
Al-Duailej highlighted privatization as a key strategy to enhance connectivity in the aviation sector. The Kingdom has successfully implemented a PPP model, signing concession agreements with the private sector to build and operate airports. Plans for privatization and expansion of existing concessions are underway to increase capacity and improve connectivity in Saudi Arabia.
Collaborative Efforts with Private Sector and Expansion Plans
During the third panel session, Al-Jasser elaborated on the collaborative efforts with partners and the private sector in Saudi Arabia. The marine sector is highly privatized, with concession agreements signed in main ports to invest in new infrastructure. Expansion plans for King Salman Airport are progressing well, with expectations to handle 100 million passengers by 2030.