The Saudi General Authority of Civil Aviation (GACA) will launch the inaugural 2024 State of Aviation Report at the Future Aviation Forum on Monday 20th May 2024, detailing the contribution of the aviation sector to Saudi Arabia’s economic development and Vision 2030 transformation program.
The report, developed by GACA in line with its strategic regulatory mandate, highlights that the Saudi aviation sector contributes $20.8 billion through aviation-related activities, enabling a further estimated $32.2 billion in tourism economic activity. Aviation supports 241,000 jobs, and a further estimated 717,000 jobs in the tourism sector.
The report also captures the transformation of Saudi aviation, with Saudi Arabia outperforming global aviation sector growth rates in 2023 – achieving 123% of international pre-pandemic seat capacity compared with a global and regional average recovery rate of 90% and 95% respectively, with 2023 growth amounting to 26% as total passenger volumes reached 111.7 million.
Minister of Transport and Logistics Services and Chairman of GACA, His Excellency Saleh Al-Jasser, said:
“The Saudi aviation sector is providing unprecedented opportunities for global aviation, achieving major leaps in global rankings in support of Vision 2030 and in line with the National Strategy for Transport and Logistics services. The inaugural State of Aviation report highlights the contribution that the aviation sector makes to the Saudi society and economy, with the great support from the Custodian of the Two Holy Mosques and His Highness the Crown Prince.”
The report details the economic contribution of the aviation sector across Saudi Arabia, and provides a snapshot of economic contributions and job figures across the airline, airport, cargo and logistics and sectors.
GACA President, His Excellency Abdulaziz Al-Duailej, added: “The report highlights that Saudi Arabia is building a more resilient, connected and high-performing aviation sector – spanning our airlines, airports, cargo and logistics, and human capability and training systems.
“GACA has developed this report to fulfil its role as a strategic aviation regulator, measuring and recording the progress of the sector in line with the targets of the Saudi Aviation Strategy. The report also informs GACA’s ongoing regulatory work, and the impacts of new regulations in creating greater competition, value and choice in Saudi Aviation.”
The inaugural report will be formally launched at the 2024 Future Aviation Forum on May 20. Held in Riyadh and hosted by GACA under the patronage of the Custodian of the Two Holy Mosques King Salman, the Future Aviation Forum convenes more than 5,000 aviation experts and leaders from more than 100 countries to shape the future of aviation, including executives from international carriers, all major global manufacturers, airport executives, industry leaders and regulators.
