Aviation sector to contribute USD53b to Dubai’s economy by 2020

18 Nov 2014

(MENAFN) According to a report by Oxford Economic, the aviation sector is expected to account for more than a third of Dubai’s economy by 2020 after registering a contribution of USD26.7 billion, or 27 percent, to Dubai’s gross domestic product in 2013, Arab News reported.

This growth is expected to happen as a result of the increase in passenger numbers as well as the expansion of Dubai’s existing airport capacity, with these factors helping the sector to contribute USD53.1 billion by 2020 to Dubai’s economy, which is equivalent to 37.5 percent of its GDP.

This growth will be supported largely by Emirates airline, Dubai Airports, which as a whole with the sector contributed almost 27 percent of Dubai’s GDP, as well as supporting 416.500 jobs in the emirate, which accounts for 21 percent of the emirates’ total employment.

The report also said that tourism and travel activities had a very important impact on Dubai’s economy, contributing USD10.2 billion as well as supporting 157.000 jobs last year, with Dubai welcoming nearly 10 million non-UAE visitors who spent USD13 billion and capturing a 0.4 percent share of the world’s business and tourism traffic, which is double the share it had in 2000

“At the end, we want Dubai to be the top choice for international travelers and traders as a destination, and as a transport hub. Dubai’s success stems from a clear vision, careful planning, and collaborative execution. It is no accident that we are a global aviation hub today. It has taken us years to build up the critical competencies and infrastructure that we have today,” CEO of Emirates Airline and Group, chairman of Dubai Airports and president of the Dubai Civil Aviation Authority said.