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Dubai’s aviation and tourism sector could contribute as much as $53bn (Dhs196bn) or 32 per cent to the emirate’s annual gross domestic product (GDP) and support nearly 816,000 jobs by 2030, according to a study commissioned by Emirates Group, Dubai Airports and research firm Oxford Economics.
The share of the aviation industry, including Emirates Group, Dubai Airports and other aviation entities, to Dubai’s economy hit a record Dhs137bn in gross value added (GVA), equivalent to 27 per cent of the GDP.
The sector’s core impact is expected to grow to Dhs132bn in GVA by the end of the decade, comprising 22 per cent of GDP while supporting 386,000 jobs. Furthermore, aviation-facilitated tourism is forecasted to contribute Dhs63bn in 2030 (10 per cent of Dubai’s GDP).
“Supported by strong air connectivity, Dubai has a prominent presence on the global stage for trade, investments, and tourism and is a leading player in aviation and logistics,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline & Group, and chairman of Dubai Airports.
Emirates Group and @DubaiAirports have released an economic impact study reaffirming aviation’s role as a major engine propelling Dubai’s economy, including adding USD $37.3 billion to Dubai’s economy in 2023, equivalent to 27% of GDP.
Read more at https://t.co/mwVNjaYQJt pic.twitter.com/JU7d3HfMQQ
— Emirates (@emirates) October 24, 2024
Our ambitious plans for Dubai World Central – Al Maktoum International Airport and our ongoing investments to expand capacity at Dubai International Airport will unlock further economic opportunities by supporting the projected demand for air transport.”
Dubai approved a $35bn plan to build a new passenger terminal at Al Maktoum International Airport, an investment that will make the airport five times bigger than the emirate’s main international airport and the biggest in the world.
When fully completed, the airport will consist of over 400 aircraft stands, with the capacity to serve 260 million passengers annually.
The expansion of Al Maktoum International is not included in the study. However, the airport’s construction is projected to contribute Dhs6.1bn to Dubai’s GDP in 2030, as well as support 132,000 jobs.
Meanwhile, Dubai’s tourism sector is projected to grow significantly over the next six years. The city reported a record number of tourist arrivals in H1 2024, cementing its position as a leading global tourism hub amid a rebound in travel post-pandemic.
The city reported 9.31 million international overnight visitors in the six months to June 30, 2024, a 9 per cent increase compared to 8.55 million tourist arrivals in H1 2023.