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FINANCIAL NEWS
ME air passengers to increase 4.9 percent by 2034
19 Oct 2014
(MENAFN) According to a report by the International Air Transport Association’s (IATA), air passengers in the Middle East are expected to grow by 4.9 percent, with the addition of 237 million passengers to be added a year on routes to, from and within the region by 2034, Times of Oman reported.
The report also said that the UAE, Qatar and Saudi Arabia are expected to witness a strong growth of 5.6 percent, 4.8 percent, and 4.6 percent respectively, while the total market size will reach 383 million passengers.
Meanwhile, IATA expects that globally the passenger numbers will reach reach 7.3 billion by 2034, which amounts to a 4.1 percent average annual growth in demand for air connectivity, with China overtaking the United States as the world’s largest passenger market by 2030.
“At present, aviation helps sustain 58 million jobs and $2.4 trillion in economic activity. In 20 years’ time we can expect aviation to be supporting around 105 million jobs and $6 trillion in GDP,” IATA Director General and CEO said.
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