The aviation market in the United Arab Emirates will grow by as much as 170% by the year 2037, according to the International Air Transport Authority (IATA).
On Tuesday, the IATA, which is based in Montreal, declared that the market will contribute $128bn to the economy of the UAE and support as many as 1.4m jobs by that date.
The organisation’s most recent study on air transport’s importance to the UAE revealed that the present domestic aviation industry is contributing $47.4bn to the nation’s economy.
It is also currently supporting nearly 800,000 jobs.
However, the sector may be able to generate a further 620,000 jobs and an additional $80bn for the economy within the next 18 years, according to the trade body, which represents 190 airlines all over the world.
This is because of the UAE government’s continuing prioritisation of aviation as one of its major strategic assets.
The IATA’s Middle East vice president Muhammad Ali Albakri says that the UAE is currently the world number one in global air trade facilitation.
It is also top of the Middle East in regard to visa openness as well as being an aviation powerhouse.
The airlines also carry the flag of the nation to everywhere in the world.
However, Albakri points out that in order to ensure that the country remains competitive as a leading hub for worldwide aviation, there needs to be enough air space capacity to cope with demand.
Infrastructure investments also need to be aligned with growth, and it is essential for new technology to be rapidly implemented.
Over the course of the last 25 years, the UAE has been experiencing an economic transformation, with aviation being at the centre of this change.
Albakri says that few states better understand the economic benefits provided by the connectivity of aviation.
The policy of the UAE government to support aviation development has been paying off in a big way.
Etihad Aviation Group’s chief commercial officer Robin Kamark says that the national carrier is very proud to continue to play a role in the region’s evolution into a travel and tourism hub.
The airline is also pleased to be able to contribute to the vision of the UAE to become a global aerospace leader.
Etihad Airways is continuing to evolve and is always looking for new opportunities to offer guests greater choice and superior travel experiences, according to Kamark.
The airline is able to achieve this thanks to an agenda of robust innovation that challenges the status quo in the industry and is able to leverage the opportunities offered by new and improved technology.
The study claims that adopting new initiatives and technology quickly is the best way to ensure that the UAE’s competitiveness as a hub for aviation can continue to be enhanced.
Anyone intending to travel on any airline to and from the UAE will need to take out travel insurance.
Travel insurance offers protection from financial concerns that can arise from unexpected events during travel.