Dubai’s aviation sector contributes with USD 37.3 billion in 2023
Date
10/24/2024 5:12:51 AM
(MENAFN) The Emirates Group and Dubai Airports have released a study highlighting the significant economic impact of the Aviation sector in Dubai, which is recognized as a cornerstone of the emirate's economy. Conducted by the renowned global research firm Oxford Economics, the study quantifies the sector's contributions and forecasts its growth trajectory, focusing on financial expansion and passenger growth. It emphasizes the aviation sector's vital role in Dubai's economic landscape.
The research evaluated various dimensions of the aviation sector's economic activity, including direct economic contributions, indirect activities generated by the sector's supply chain, and the stimulative effects of wage-driven consumer spending from the local aviation workforce. Additionally, it analyzed the positive impact of tourism spending attributed to the aviation sector in Dubai, underscoring its broader economic significance.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports and Chief Executive of Emirates Airline and Group, remarked on the sector's critical role in Dubai's economic growth strategy. He highlighted the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, emphasizing that the aviation sector will continue to be a pivotal element of Dubai's D33 economic agenda. Sheikh Ahmed noted Dubai's prominent status in global trade, investment, and tourism, positioning it as a vital international air hub.
According to the study, the aviation sector, which includes the Emirates Group and Dubai Airports, is projected to contribute AED 137 billion (approximately USD 37.3 billion) in gross value added (GVA) to Dubai's economy in 2023, accounting for 27 percent of the emirate's GDP. This contribution comprises AED 94 billion in underlying economic impact and AED 43 billion in tourism-related effects. Looking ahead, the study anticipates steady growth, estimating that aviation activities facilitated by Emirates and Dubai Airports will contribute AED 196 billion, or 32 percent, to Dubai’s GDP by 2030, based on 2023 prices.
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