Developing GCC s Emerging Airports
Aviation industry growth in GCC likely to outperform all other regions in the world
ATP- Arab tourism portal- The fifth annual Emerging Airports Conference and Exhibition (EACE) organized by Babylon International FZE in association with Expo Tag Kuwait, will be held in Kuwait from 20 – 21 October 2015. At the conference, existing and future business opportunities for the development of airports in the GCC region, including public-private-partnerships (PPP) and build-own-transfer (BOT) will be topics of discussion.
The aviation industry in the GCC is expected to outperform all other regions in both passenger and cargo traffic. According to a report by Alpen Capital on the ‘GCC Aviation Industry,’ growth in passenger and cargo traffic is set to increase by 6.7% CAGR and 7.2% CAGR respectively over the period 2012 – 2032. Mr. Ram Muthaiah, Executive Director of Babylon International FZE, said “The growth opportunities are bringing global companies from airport builders to aircraft manufacturers to the region, where airport development and national carrier fleet expansion programs remain a priority.”
At the EACE, the keynote speech will be delivered by the President of Kuwait’s Directorate General of Civil Aviation (DGCA), H.E Fawaz A. Al-Farah. Delegates can also expect informative discussions on various topics including the development of passenger self- services, airport facilities management, and aviation training, and the enormous opportunities for the aviation industry in Kuwait. Elaborating on the opportunities in Kuwait, Mr. Muthaiah noted, “The rising demand for air travel given Kuwait’s geographic location, economic trade, and demographic mix, has led to discussions of building a new terminal to deal with the increasing passengers.” Business organizations interested in leveraging these opportunities and entering the aviation market in the GCC should consider on the existing and future investment opportunities in the region.
Globally, the aviation industry has benefited from technological innovation in aircraft engine technology, IT solutions, and mobile technology which has improved cost-effectiveness and increased airline efficiency. At the EACE further exploration of these technologies and how they can assist with the development of the airports will be possible.
The EACE is supported and sponsored by Kuwait Airways(Presidential Sponsor), Gold Sponsors Honeywell, Erbil International Airport, Hill International and Aviation Lease and Finance Company (ALAFCO).
The opportunities for growth in the aviation industry in the emerging airports of the GCC is high, as they share the same advantages of high-income urban populations, large expatriate population that travel frequently to their home countries, and a strategic geographic location connecting the east to the west.
