We achieved a number of goals during the year, most notably the record traffic numbers that helped us establish our lead as the world’s number one airport for international passengers, and the completion of the new Concourse D project for a timely and smooth opening. While the new concourse has made Dubai International bigger and better, and earned us applaud from the global aviation industry, we are not oblivious to the fact that the ongoing growth will require that we continue to plan and increase capacity at both our airports.
Aviation sector’s contribution to the economy of Dubai and the UAE is well established. The sector contributed nearly 27% of Dubai’s GDP and accounted for over 21% of the city’s employment in 2013 according to a study conducted by Oxford Economics. The study estimates that the overall economic impact of both aviation and tourism related activities will rise to $53.1 billion in 2020, or 37.5% of Dubai’s GDP, and support over 754,500 Dubai-based jobs. The forecast suggests that by 2030 the contribution of aviation to GDP will increase dramatically, rising to $88bn or 44.7% of GDP.
Considering the importance aviation holds for Dubai – as one of the key pillars of our economy – and based on revised growth projections to 2020 and beyond, which clearly point to the need for the additional capacity at DXB, as well as the rapid expansion of Dubai’s second airport, DWC, we are working on a masterplan to meet anticipated demand while elevating service levels and the passenger experience at both our airports.
Underlining our proven track record of successfully charting new frontiers, in September 2014 HH Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai, endorsed a plan to invest $32bn to build what will become the world’s largest airport at Al Maktoum International at Dubai World Central.
This decision to create the world’s biggest and best airport is firmly rooted in the knowledge that we have the will and the ability to drive the aviation industry to new heights – growth that will continue to benefit both Dubai and the hundreds of cities we connect around the globe.