Blueprint Foresees Dramatic Expansion of Saudi Bizav Sector

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Source: AIN Online

Sweeping new proposals for Saudi general aviation herald official government sanction that would increase airports, aircraft operators, and MROs for the sector, which includes business aviation. The roadmap—"Saudi Arabia: A New Global Hub for General Aviation"—anticipates tourism growing 2.5 times by 2030 and an overall SAR$365 billion ($97 billion) to be spent on tourism and aviation.

Six dedicated general aviation airports are on the drawing board: Neom, Amaala, Jeddah, Makkah, Dammam, and Riyadh. Ultra-long-range business jets will drive reach and flexibility in private and corporate air travel.

Under the roadmap, three FBO companies will be in operation within six years. By 2030, 24 business jet flights per 10,000 inhabitants are expected, up from five in 2021. Investment opportunities for financial institutions, leasing firms, and specialty insurance providers will also blossom, according to the document.

The general aviation roadmap launched by Saudi Arabia's General Authority of Civil Aviation (GACA) will enhance the sector's economic impact by contributing around SAR$7.8 billion to GDP and generating more than 35,000 jobs by 2030.

“As we chart the course for the GACA's general aviation roadmap, we must harness...key trends to unlock the full potential of this sector,” GACA president Abdulaziz Al-Duailej said.

Over the past six and a half years, ever since an anti-corruption drive was launched against prominent Saudi businessmen in 2017, knowledgeable industry voices have said it would take time for a new direction for Saudi business aviation to emerge. They now believe that finally seems to be happening.