Private jet hire is transforming trade in the Middle East by offering fast, convenient and flexible travel. By offering quicker access to almost anywhere in the region and beyond, private jets are now an essential tool for businesses. Here, we examine the trends in the growth of private aviation, what’s driving them, and how private jet hire is impacting business in the Middle East.
How Private Jet Hire Supports Trade in the Middle East
Private jet hire facilitates efficient, fast and convenient travel around the region. Executives can visit regional financial centers such as Riyadh, Dubai, Abu Dhabi and Doha with just a very short journey via private aircraft. Smaller airports within more remote regions are usually more easily accessible via private planes, too.
Most of the world’s major financial centers are also within reach of a single private jet flight from the region. Businesses can send their executives to meet colleagues in Europe, North America and Asia in a matter of hours thanks to faster check-in, boarding and disembarkation times with private planes.
Private jets enable businesses to deploy personnel quickly and respond to new opportunities fast, giving them a competitive advantage. Speed of travel can be a crucial factor in closing deals, adjusting to changes in market conditions, and strengthening business networks. Private aviation allows businesses to be agile and responsive
The Trend for Private Jets Across the Middle East
Here are some notable private aviation and jet hire trends, both worldwide and local to the Middle East. They demonstrate the growing popularity of both business and leisure travel aboard private aircraft.
1. The private jet industry is growing worldwide.
In 2022, the private aviation industry was valued at around 30 billion US dollars. At the same time, the annual growth rate was projected at 4-5% for the following 10 years.
2. The industry is growing even faster in the MENA region.
Further statistics focusing on the MENA region alone suggest that the private aviation industry is growing incredibly fast here. Figures presented at the end of 2022 by the Middle East and North Africa Business Aviation Association suggest a 25-27% increase in private aircraft movements in the area.
3. Business travel accounts for around a third of private aviation journeys.
While leisure travel is the reason behind the majority of private jet trips, worldwide figures suggest 30-40% of journeys are made by business travelers.
4. The demand for private jets soared during the pandemic.
According to figures from Mordor Intelligence, there were 42% more private jets delivered in 2022 than in 2020.
5. Demand for large private jets in the MENA region is high.
The demand for larger jets is proportionally higher in the Middle East than elsewhere in the world, with large jets representing around 65% of the operational private aircraft in the region.
6. Around 17,000 trips are made in private jets via Dubai.
Dubai’s Al Maktoum International Airport sees around 17,000 flight arrivals or departures per year via private jet, a figure that has grown steadily since the airport’s VIP terminal opened in 2016. Dubai is home to about 600 private aircraft, but many more travelers take advantage of Dubai private jet charter hire to travel in and out of the region.
What’s the Story Behind Growing Private Jet Travel in the Middle East?
The aviation industry has identified several significant factors that have led to the increasing popularity of private jet charter in the Middle East.
The first is the popularity of major events in the MENA region that brought huge visitor numbers. Both the soccer World Cup in Qatar and Expo 2020 in Dubai had a big impact on the private aviation industry, with a large increase in numbers of flights. Dubai’s hosting of COP28 and the Dubai Airshow, plus the annual Formula One motor races in Abu Dhabi have brought further visitors via private jet.
Secondly, policies designed to attract high wealth individuals to the region, both as tourists and investors, have increased the number of private jets operating within the region, particularly in Dubai. The number of businesses registering in Dubai has been growing year on year and this is likely to explain the growth in demand for large jets suitable for transporting multiple executives around the region and further afield.
Thirdly, the COVID-19 pandemic also increased the popularity of private jets. Many business travelers switched to private jets and charter flights, away from first class and business class flights on scheduled airlines. Many cited safety and hygiene reasons. However, post-pandemic many business travelers have continued to choose private flights over scheduled flights after growing accustomed to the multitude of benefits this method of travel offers.
The Benefits of Private Jet Hire for Business Professionals
Private jet hire provides a wealth of advantages to business travelers. Here are some of the key benefits.
Efficiency
Without long waits in airport lounges for scheduled flights, executives can make the very best use of their time, even when traveling. The whole process of arriving and preparing to board a private flight is streamlined and designed to suit busy executives. On board wifi and telecommunications as well as meeting spaces ensure that every minute onboard a private jet can be productive.
Convenience
The use of small, convenient airports facilitates multiple meetings in a working day, even when it means crossing country borders.
Large private jets are capable of traveling far afield. Popular private jet routes from Dubai to outside the region include flights to Moscow, London, Paris, Beijing and New York. With no need to be inconvenienced by the scheduled flights of airlines, private jet travelers can choose the most convenient time to travel according to their own schedule.
Privacy and Security
Private jets afford business travelers privacy and security. This means that private aircraft are ideal spaces for confidential meetings, private transactions, and the handling and transportation of sensitive documents.
Private Jet Hire: An Impactful Trade Solution
By enhancing connectivity, responsiveness and efficiency, private jet hire is having a positive impact on trade in the Middle East. As businesses continue to leverage the advantages of private aviation to travel around and in and out the region, the trade landscape is set to become even more dynamic and prosperous.
