First class is out, and private jets are… in? Middle Eastern travellers keep their purse strings loose when it comes to air travel with private jet movements on the rise.
Around 8,472 private jets took off and touched down at Dubai’s Mohammed bin Rashid Aerospace Hub (Mbrah) during the first six months of 2024, a 7% increase on the same period last year. Meanwhile, UK aviation services provider Gama Aviation attributed the Middle East’s growing private jet industry to a $100 million investment in a new facility at Sharjah International Airport.
The private charter companies themselves have acknowledged growing demand, with VistaJet witnessing bookings increase by 50% year-on-year during the first quarter last year; XO sending additional aircraft to the Middle East to accommodate demand; Mayfair Jets expanding to multiple countries in a few short years after commencing operations in 2020; and Voyex, the first female-founded private jet business, launching in the market with an office in Dubai and a HQ coming soon in Saudi Arabia.
As advisory firm Creative Zone put it back in March this year, the private jet industry in the Middle East is “in its golden era”.
Unsurprisingly, the jump in private jet travel was welcomed by Middle Eastern leaders. Among them was Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South, who indicated that it’s only the beginning of private jet travel in the region.
“We anticipate further growth of private jet movements as a result of the new development of aircraft hangars and maintenance facilities in Dubai South,” he said. “At Dubai South, we are committed to positioning Dubai as the world’s aviation capital, in line with the government’s vision.”
So how much further is private jet travel expected to grow in the Middle East?
Private jets are taking off
According to Creative Zone, the Middle East’s growth in private jet usage is on track with global trends. Despite financial hardships of the world, the Middle Eastern private jet market is expected to grow by nearly $400 million in the next five years. Currently private jet travel is worth $566 million in the Middle East region, and by 2029, it’ll be around $943 million.
In the UAE alone, Dubai is on track to reach around 18,000 private jet movements by the end of this year, a significant jump on the 16,657 total movements recorded last year.
And it’s not just celebrities booking
Billionaires, business travellers and the Dubai Bling-ers – they are the fancy flyers outgrowing first class and turning to private jets.
One reason Creative Zone believes private aviation services are becoming in demand, is the growing number of high-and-ultra-high-net-worth individuals moving to the Middle East.
According to Henley and Partners World’s Wealthiest Cities Report 2023, Dubai is home to nearly 68,400 high-net-worth individuals, 202 centi-millionaires and 15 billionaires. If that wasn’t enough wealthy people in one concentrated area, the number of centi-millionaires in Dubai is expected to increase by 78% over the next decade!
Meanwhile in Saudi Arabia, around 18,200 high-net-worth individuals were living in Riyadh last year, and that’s expected to almost double to 35,000 by 2033.
For those that can’t afford private jets, there’s the work credit card. Creative Zone also believes business travel to be another driver of private jet usage in the Middle East. This is supported by Dubai Aviation City Corporation’s Al Zaffin, who acknowledged “business aviation” as contributing to the increase in private aviation this year.
“Growing demand for business jets is driven by the influx of businesses setting up or expanding into the Middle East region, especially Dubai,” Creative Zone published earlier this year. “In the first half of 2023, over 30,000 businesses registered with the Dubai Chamber of Commerce – a 43% increase on the previous year.”
But why fly private?
Better question, why not?
It’s time efficient and flexible, allowing travellers to depart and arrive according to their own schedules (or as closely to). Imagine not needing to navigate through large and crowded airport complexes or queue in long lines – instead, rock up in style, enjoy planeside valet parking and step aboard as soon as you arrive.
Importantly for private jetters, they’re also equipped with enough advanced technology and the latest conveniences to take the office into the sky – i.e. fast WiFi to make video calls, hold meetings and negotiate deals. With unparralelled privacy, exclusivity, comfort and personalised service – what’s not to love?
