Forecast for UAE aviation sector revealed

123 RF / 06photo

The UAE's aviation sector could support as many as 1.4 million jobs by 2037.

That's according to the International Air Transport Association (IATA), which said it currently employs nearly 800,000 people.

It also revealed that aviation will add an extra AED 300 billion in GDP for the UAE's economy in the next two decades.

As of now it contributes more than AED 174 billion, close to 14 per cent of the UAE's GDP.

However IATA said the UAE needs to increase its airspace capacity in order to ease congestion and meet future demand.

 

More from Business

  • H.H. Sheikh Hamdan witnesses expansion agreement for Hewi Dubai

    H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, witnessed the signing of a partnership agreement between Dubai Municipality, the General Construction Company and Binghatti, to develop Hewi Al Barsha and Hewi Muhaisnah.

  • India to slash tariffs on cars to 40% in trade deal with EU

    India plans to slash tariffs on cars imported from the European Union to 40 per cent from as high as 110 per cent, sources said, in the biggest opening yet of the country's vast market as the two sides close in on a free trade pact that could come as early as Tuesday.

  • Dubai Chambers explores strengthening economic relations with Serbia

    Dubai Chambers explored ways to deepen economic cooperation with Serbia during a recenttrade mission to Belgrade aimed at expanding bilateral engagement across a range of sectors.

  • TikTok clinches deal for new US joint venture to avoid American ban

    TikTok's Chinese owner, ByteDance, on Thursday said it has finalised a deal to establish a majority American-owned joint venture that will secure US data, to avoid a US ban on the short video app used by over 200 million Americans.

  • DP World unveils Dubai Food District project

    DP World has officially unveiled the Dubai Food District, a major expansion and rebranding of the Al Aweer Central Fruit and Vegetable Market that will bring trade, storage, processing and distribution into a single, connected ecosystem.

News