Global Investment in Aviation Summit 2019 to be held from January 27-29

Global Investment in Aviation Summit 2019 is all set to take place from January 27-29, 2018 at the Intercontinental Dubai Festival City with brainstorming on challenges and investment in aviation being the core objectives. The required modernisation of aviation infrastructure expansion, development, and modernisation to cater to anticipated increase in passenger and freight air traffic demand will reach USD 1.8 trillion by 2030.
GIAS 2019 is an initiative of the UAE General Civil Aviation Authority (GCAA), which was established to create a leading, safe, secure and sustainable civil aviation system in the country. According to a report published by the International Air Transport Authority (IATA), global aviation will have to cater to over 14 trillion passenger traffic and 466 billion tonnes of freight traffic by 2034. This projection will show an increase of 14.5 per cent RPK and 4.2 per cent FTK, per annum respectively. The projected growth in global aviation industry will generate at least 99 million jobs and will contribute USD 5.9 trillion in GDP, a 122 per cent increase from 2014, according to the same IATA report. The UAE is investing substantially in upgrading the aviation infrastructure. HE Saif Mohammed Al Suwaidi, Director General, UAE General Civil Aviation Authority, said, “Aviation has been an important part of the UAE’s economic growth. One of the nation’s vigorous strength is its rapidly-expanding infrastructure, with spending of USD23.16 billion, including USD8 billion for expansion of Al Maktoum International Airport, USD7.6 billion for Phase IV development of Dubai International Airport, and USD 6.8 billion for expansion of Abu Dhabi International Airport. Collectively, the UAE increases its fleet per month by approximately 4-5 per cent and the total number of aircraft will reach 525 by the end of 2018, increasing its capacity to cater to underserved routes and reach two-thirds of the world’s population.”