Saudi Arabia's aviation sector contributes more than $20bn to economy
Saudi Arabia's aviation sector has contributed $20.8 billion to its gross domestic product, reflecting the key role it plays in the Arab world's biggest economy, a report from its regulator has shown.
Saudi Arabia's aviation sector contributes more than $20bn to economy
The Economics of Geography

Saudi Arabia's aviation sector contributes more than $20bn to economy

Photo: AFP/NurPhoto
Eurasia 27/05/2024 17:43

Saudi Arabia's aviation sector has contributed $20.8 billion to its gross domestic product, reflecting the key role it plays in the Arab world's biggest economy, a report from its regulator has shown.

The strength of the industry has branched out to other key areas of the country's economy, with aviation-related activities responsible for a further $32.2 billion in tourism receipts, the General Authority of Civil Aviation said in its inaugural State of Aviation Report released on Saturday, reported by The National.

The aviation sector alone has enabled 241,000 jobs and has contributed to supporting a further 717,000 jobs in the tourism-related areas, the Gaca report said.

It also revealed that the kingdom has outperformed global aviation sector growth rates last year, achieving 123 per cent of international pre-pandemic seat capacity compared to the global and regional average recovery rate of 90 per cent and 95 per cent, respectively.

Last year's growth amounted to 26 per cent as total passenger volumes reached 111.7 million, it added.

The findings are aligned with Saudi Arabia's Vision 2030 economic programme and the National Strategy for Transport and Logistics services, Saleh Al Jasser, Saudi Minister of Transport and Logistics Services and chairman of Gaca, said in the statement.
#Saudi Arabia
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