By Staff www.khaleejtimes.com
The emirate’s expansion in airport capacity and facilities will provide vast growth opportunities for the global aviation industry.
A significant portion of the government investments planned for infrastructure development in the emirate will be for the aviation industry with the airports sector being the top priority. The global aviation industry will benefit immensely with the opening of the floodgates of new investments in the run up to the event, which will attract 25 million tourists to the economically-vibrant region.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said: “We have a lot to accomplish and we have no excuse for any delays or poor performance. We have what it takes to achieve as we are blessed with rich resources, capabilities, expertise, positive energy, a thirst for knowledge, dedication and above all, the leadership’s unlimited support.”
Dubai is expected to invest more than $8 billion in new infrastructure to host Expo 2020. Total spending related to the Expo, including private sector projects, could reach $18.3 billion, HSBC estimated. As much as $43 billion in infrastructure projects would need to be developed in preparation for the event, Deutsche Bank estimated. Aviation has established itself as a vital contributor to the UAE’s economy, contributing more than Dh145 billion or 14.7 per cent to the national Gross Domestic Product (GDP). More info