Saudi Arabia’s focus on aviation is integral to its 2030 vision, aiming to attract 330 million passengers annually and garner investments totaling $3.3 trillion by 2030.

To solidify its position as a global aviation hub, Saudi Arabia is set to unveil over $100 billion in investment opportunities at the upcoming Future Aviation Forum (FAF24) next month.

This plan, aligned with the Saudi Aviation Strategy (SAS), aims to triple passenger traffic and connect the kingdom to more than 250 destinations by 2030.

The focal point of the investment drive will be a staggering $50 billion allocated for airport development, including the expansive King Salman International Airport in Riyadh. Also, there are plans for public-private partnerships to enhance airports in Abha, Taif, Hail, and Qassim.

FAF24, scheduled for May 20-22, will serve as a platform to showcase these projects to aviation industry leaders such as Boeing, Airbus, Embraer, and COMAC, alongside major airlines, airports, and investment groups.

Aircraft acquisition plays a significant role in the strategy, with airlines such as Saudia, Flynas, Flyadeal, and the newly launched Riyadh Air prepared to invest a combined $40 billion in orders for new planes. The forum will delve into these expansion plans, offering valuable insights for aviation suppliers.

Rounding out the investment opportunities are projects in cargo and logistics, advanced air mobility, and business aviation.

This initiative underlines Saudi Arabia’s position as the world’s new investment hub, declared Minister for Investment Khalid Al-Falih. “Aviation is a key investment sector and enabler of the kingdom’s broader economic transformation,” he added.