Emirates and aviation sector to contribute over a third of Dubai’s GDP by 2030
Emirates and Dubai’s aviation sector are forecast to contribute over a third of the region’s gross domestic product (GDP) by 2030 and one in every four jobs, according to a study by global research firm Oxford Economics.
In 2023, Emirates Group, Dubai International Airport (DXB), Al Maktoum International Airport (DWC) and other aviation entities such as flydubai, Dubai Duty Free and Dubai Aviation Engineering Projects (DAEP) contributed 27% of Dubai’s GDP but this is set to soar to 33% in six years’ time.
The report, commissioned by Emirates and Dubai Airports, states that the aviation sector generated approximately AED 137 billion ($37.3 billion) in gross value added (GVA) in 2023 and it is predicted this will rise to AED 196 billion ($53 billion) in 2030.
The total aviation sector effect includes the core economic impact and the catalytic impact of aviation-facilitated tourism.
Aviation-led activity also accounted for 631,000 jobs across Dubai, equivalent to one in five jobs in the emirate in 2023. A further 185,000 aviation-linked jobs are expected to be created by 2030, with the total number of jobs supported by Dubai’s aviation sector forecast to grow to 816,000 jobs.
EmiratesEmirates alone generated AED 75 billion ($20 billion) in GVA, equivalent to 15% of Dubai’s GDP, in 2023 and supported one in every 14 jobs (236,000 people).
“Supported by strong air connectivity, Dubai has a prominent presence on the global stage for trade, investments, tourism, and is a leading player in aviation and logistics,” Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Group, and Chairman of Dubai Airports said. “Our ambitious plans for Dubai World Central – Al Maktoum International airport, and our ongoing investments to expand capacity at Dubai International, will unlock further economic opportunities by supporting the projected demand for air transport.”
The Emirates CEO added: “Our growth plans will generate even more skilled jobs, and also help drive innovation as we work with leading technology partners to develop future solutions to enhance travel experiences and make operations more efficient and secure.”
While the economic impact of Al Maktoum International Airport’s expansion is not included in the report, the construction project is expected to contribute an estimated AED 6.1 billion ($1.6 billion) to Dubai’s GDP in 2030, as well as support an additional 132,000 jobs.
Tourism in Dubai is projected to grow significantly over the next six years, with aviation-facilitated visitor spending expected to contribute AED 63 billion ($17 billion) in GVA (equivalent to 10% of Dubai’s projected GDP) as well as one in eight in the city.
As one of the most frequented destinations in the world, visitors stayed an average of 3.8 nights in 2023, spending an average of AED 4,300 ($1,171) on hotels, restaurants, attractions and shopping.
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Emirates and Dubai’s aviation sector are forecast to contribute over a third of the region’s gross domestic product…
The post Emirates and aviation sector to contribute over a third of Dubai’s GDP by 2030 appeared first on AeroTime.
