A new study has estimated that the economic impact of the Dubai aviation sector is projected to grow to $88.1 billion by 2030 and will support 1,194,700 jobs in the emirate.
The aviation sector, which includes Emirates, Dubai Duty Free and Dubai Airport, contributed $26.7 billion to the Dubai economy in 2013, and supported a total of 416,500 jobs, or 21 percent of the emirates’ total employment.
By 2020, it’s estimated that Emirates will fly 70 million passengers, and Dubai International will receive 126.5 million passengers, almost 30 percent higher than its original 2010 assessments.
It’s estimated that by 2020, aviation will contribute $53.1 billion to Dubai’s economy, and 37.5 percent to the emirate’s GDP, supporting over 754,500 jobs.
The growth will be supported by the investment in airport capacity, which will see Dubai International accommodate 60 percent more aircraft stands by 2015, and service 90 million passengers by 2018.
The figures were based on the latest report ‘Quantifying the Economic Impact of Aviation in Dubai’ conducted by global research firm, Oxford Economics, as a follow-up to a 2011 study done by the same firm.
The report sought to evaluate the economic impact of the aviation sector and its subsequent Dubai-based supply chain.
The study found that for every $100 of activity in the aviation sector, a further $72 is added in other sectors of the local economy from supply chain connections and expenditures. For every 100 jobs created in aviation, an additional 116 jobs are created elsewhere in Dubai.
The report’s conclusions re-affirms aviation’s growing significance as a major engine of economic development, and its far-reaching contributions to other industries as a catalyst for a spectrum of economic activity.
“Dubai’s success stems from a clear vision, careful planning, and collaborative execution. It is no accident that we are a global aviation hub today,” said Sheikh Ahmed, chairman and CEO of Emirates Airline and Group.
”It has taken us years to build up the critical competencies and infrastructure that we have today, and we now have a solid base on which to further develop,” he added.