Middle East prepares for 'take-off' to become the global hub: Frost and Sullivan
Frost and Sullivan reports (21-Dec-2009) Middle East airports are forecast to invest USD86 billion in expansion programmes up to 2015, with 12 major regional hubs contributing to 90% of this investment. This is estimated to double after 2025, with major airports in the region pursuing their aim of becoming global hubs. Passenger traffic, cargo traffic and aircraft movements across major airports in the region are expected to grow at a compound annual growth rate of 8.7%, 8.5% and 4.8%, respectively, from 2008 to 2015. [more]
Frost and Sullivan: “These airports are now able to cater only to 70% of the potential traffic through them. There will be continued gap between the demand and available capacity in the aviation sector in the coming years in the region, justifying the massive investments that have been planned here. The region offers good potential for private infrastructural investors as 57% on the ongoing investments are being allocated for construction and terminal expansion. Private investors that have government backing will be in a better position to smoothly execute expansion and operation plans,” Balaji Srimoolanathan, Programme Manager Aerospace & Defence. Source: Khaleej Times, 22-Dec-2009.