Aviation News – Saudi Arabia’s General Authority of Civil Aviation (GACA) is set to officially release its inaugural 2024 State of Aviation Report during the Future Aviation Forum (FAF 2024) scheduled for Monday in Riyadh, revealing the aviation sector’s contribution to advancing the kingdom’s economic development and realising its Vision 2030 programme objectives.
According to the report, aviation contributes a substantial $20.8 billion through aviation-related activities and facilitates an additional $32.2 billion in tourism-driven economic activity.
Furthermore, the sector directly supports 241,000 jobs, and an estimated 717,000 roles within the tourism sector.
Saudi aviation saw 26% growth in 2023, surpassing global aviation sector growth rates with 123% of international pre-pandemic seat capacity, compared to global and regional average recovery rates of 90% and 95%, respectively.
Additionally, the kingdom registered a significant increase in passenger traffic to 111.7 million throughout the year.
“The Saudi aviation sector is providing unprecedented opportunities for global aviation, achieving major leaps in global rankings in support of Vision 2030, in line with the National Strategy for Transport and Logistics Services,” the Minister of Transport and Logistics Services and GACA’s Chairman, HE Saleh Al-Jasser said, noting that the report highlights the aviation sector’s contributions to the Saudi society and economy.
A comprehensive strategy
On his part, GACA’s President, HE Abdulaziz Al-Duailej said that the report highlights the kingdom’s efforts to build a more resilient, interconnected, and high-performing aviation sector, spanning airlines, airports, cargo and logistics, as well as human capability and training systems.
“GACA has developed this report to fulfil its role as a strategic aviation regulator, measuring and recording the sector’s progress 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,” he added.
FAF 2024 is expected to bring together over 5,000 aviation experts and leaders from more than 100 countries, including executives from international carriers, leading global manufacturers, airport executives, industry leaders, and regulators.
Source: https://www.theaviatorme.com/news/gaca-state-of-aviation-report
