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Tuesday, Jun 18, 2024

Saudi Aviation Industry to Create 35,000 New Jobs by 2030

Saudi Aviation Industry to Create 35,000 New Jobs by 2030

Saudi Arabia's aviation sector aims to create 35,000 new jobs by 2030, according to the 'State of Aviation' report. The sector contributed $21 billion to GDP and $32.2 billion in tourism receipts in 2023. Major airport expansions and new investments are planned, including King Salman International Airport in Riyadh and the new airline Riyadh Air.
Saudi Arabia has unveiled its first 'State of Aviation' report, emphasizing the sector’s significant contributions to the Kingdom’s economic growth.

Speaking at the Future Aviation Forum in Riyadh, Minister of Transport and Logistic Services Saleh Al-Jasser highlighted the aviation sector's role in generating $21 billion for the GDP and $32.2 billion in tourism receipts in 2023.

The report, presented by the General Authority of Civil Aviation (GACA), revealed that the sector supports approximately 958,000 jobs and contributed $53 billion to the economy.

With targeted investments, including the General Aviation Roadmap, the sector aims to contribute an additional $2 billion to GDP and create 35,000 new jobs by 2030.

Significant airport expansions are underway, including King Salman International Airport in Riyadh, which aims to support 100 million passengers by 2030.

Other projects include the development of new airports in Jazan, Al-Baha, and Al-Jouf, and the expansion of Prince Muhammad bin Abdulaziz Airport in Madinah.

The new airline Riyadh Air, owned by the Public Investment Fund, has also announced acquisitions of over 78 wide-body aircraft.

The forum underscored the importance of environmental sustainability and overcoming supply chain disruptions.

Abdulaziz Al-Duailej, president of GACA, emphasized the aviation sector's role as a major economic enabler, noting a 27% increase in passenger numbers from 2022 to 2023.

Privatization and public-private partnerships are key strategies for enhancing connectivity, as demonstrated by the successful PPP model at Medinah airport.
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