Saudi Press

Saudi Arabia and the world
Monday, May 20, 2024

Saudi Arabia's $2 Billion Aviation Sector Expansion: Unveiling the Roadmap at the 2024 Future Aviation Forum

Saudi Arabia's $2 Billion Aviation Sector Expansion: Unveiling the Roadmap at the 2024 Future Aviation Forum

Saudi Arabia is planning to expand its aviation industry tenfold into a $2 billion sector by 2024.
The plans include the business jet segment, such as charter, private, and corporate aircrafts.

The expansion is aimed at supporting Saudi Arabia's development as a global high-value enterprise and tourist destination.

The details of the roadmap will be shared at the 2024 Future Aviation Forum, which will bring together 5,000 leaders, including investors, operators, and service providers.

The forum is hosted by the General Authority of Civil Aviation, and its President, Abdulaziz-Al Duailej, stated that general aviation is crucial for growing high-value sectors of the Saudi economy, including tourism, business, and entertainment events.

The tourism target for Saudi Arabia was revised upwards from 100 million to 150 million visitors in October 2023.

The General Civil Aviation Authority (GACA) of Saudi Arabia is launching a roadmap to boost the general aviation sector in the country.

This plan aims to transform infrastructure and regulations, attract investors, and enhance services for private aviation aircraft owners, lessors, and investors, as well as operators and service providers.

The announcement comes after GACA removed "empty-leg restrictions" and simplified economic license requirements in October 2023.

GACA invites investors, operators, and service providers to the Future Aviation Forum in May to learn more about this ambitious plan.

The FAF 2024 aviation conference in Riyadh will bring together over 100 countries' aviation leaders.

Saudi Arabia will reveal over $100 billion in investment opportunities at the event, with $50 billion allocated to airport development, $40 billion for new aircraft orders, and $10 billion for other projects such as logistics areas around major airports in Riyadh, Jeddah, and Dammam.

The 2022 aviation forum resulted in over 50 agreements and $2.7 billion in deals.

The upcoming event will include commercial announcements, as well as panel sessions focused on the roadmap and specialist general aviation.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia's Flourishing Venture Capital Sector Attracts International Investments
Saudi Aviation Sector Boosts Economy with $21 Billion Contribution
Blinken orders crackdown on Israel-Hamas leaks
Future Aviation Forum 2024 to Propel Saudi Arabia’s Vision 2030
What Happens If an Iranian President Dies in Office?
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
Saudi Arabia Advances Procurement and Supply Chain Innovation
Saudi Arabia’s Holdings in US Treasuries Rise to $135.9 Billion
Saudi Arabia Emerges as a Hub for Sustainable Technology Manufacturing
UN General Assembly Approves Palestinian Membership Bid
Teens Forming Friendships with AI Chatbots
WhatsApp Rolls Out Major Redesign
Neuralink's First Brain Implant Experiences Issue
Apple Unveils New iPad Pro with M4 Chip, Misleading AI Claims
OpenAI to Announce Google Search Competitor
Apple Apologizes for Controversial iPad Pro Ad Featuring Instrument Destruction
FedEx Airlines Boeing 767 cargo plane lands on nose at Istanbul Airport
Apple Faces Significant Sales Decline Amid AI Integration Delay
Netanyahu's Firm Stance Amid Rafah Hostage Talks
BlackRock to Establish Saudi Investment Firm
Dubai's New Al Maktoum International Airport: World's Largest with ₹2900 Crores Investment, 5 Runways, and 260 Million Annual Capacity
New UK Laws: Banning Weak Passwords for Internet-Connected Devices to Enhance Cybersecurity
Blinken on Gaza: Ceasefire is Key to Humanitarian Crisis Resolution
UAE Prime Minister Announces $544M for Home Repairs after Historic Rains, Vows to Learn from Experience
Germany Sends New Frigate to Red Sea to Protect Ships Amid Houthi Attacks
Isfahan Explosions: US Media Reports Israel's Retaliatory Strikes on Iran
Four Dead, Dubai Airport Disrupted: UAE's Heaviest Rains in 75 Years Cause Flooding and Flight Chaos
Dubai's Historic Flooding: Homes Ruined, Airport Disrupted Due to Lack of Storm Drains
Meteorologist Warns of 'Weather Wars' Amid Debate over Dubai Rain and Cloud Seeding
Saudi Arabia Leads in Artificial Intelligence Development: Ranked First by Stanford University Index
Dubai's Airport and Roads Disrupted for Third Day Amid Heavy Rain and Flooding: 1,285 Flights Cancelled or Diverted
Doha Hamad Overtakes Singapore Changi as World's Best Airport in Skytrax Awards 2024
Dubai Airports: Stranded Tourists 'Living on Duty Free,' Desperate for Food and Water
Turkish President Erdogan to Host Hamas Leader Haniyeh Amidst Israel Tensions
BOEING WHISTLEBLOWER: THE MAX AIRPLANE IS NOT SAFE!!!
Creative menu of a Pizza restaurant..
Heavy Rains Cause Flooding in UAE and Oman: 18 Lives Lost
Look at this weather in Dubai. It looks like the end of days
You can be a very successful player, but a player with character is another level!
Come to Dubai, ya Habibi
Stay safe, ya Habibi
Dubai underwater, Influencers are stranded in their Rolls Royces in flooded roads as skies turn black in apocalyptic scenes as storm hits region.
Unprecedented Flooding Disrupts Dubai
Experience the Future of Dining: My Visit to an AI-Powered Burger Joint
Ajman Crown Prince Declares Remote Work Day for Government Employees Due to Weather (Except Essential Jobs)
UK Urges Israel to Avoid Escalation in Iran-Israel Tensions: 'Time to Be Smart'
Iran's New Strategy: Direct Retaliation Against Israel After Damascus Consulate Attack
Saudi Finance Minister to Lead Delegation at IMF-World Bank Meetings: Discussing Global Economic Developments and Saudi Arabia's Three-Year Chairmanship
Saudi Arabia Leads the Way in Metaverse Adoption: $7.6 Billion Economic Opportunity by 2030
Saudi ADES Wins $93.3m Contract from TotalEnergies to Operate Jack-up Rig in Qatar
×