Saudi Arabia is targeting a tenfold increase in international airline passengers transiting the kingdom by the end of the decade as it looks to triple annual passenger traffic, an official said.
The government last year announced plans to become a global transportation and logistics hub by 2030 targeting passenger traffic of 330 million a year, though few details have emerged.
The strategy calls for 500 billion riyal ($133.32 billion) in investment and is part an economic policy to create jobs and wean the country off oil revenue.
That policy, which has seen the government mandate that companies move their regional headquarters to the kingdom, puts Saudi Arabia in competition with neighbour the United Arab Emirates, where airline Emirates’ main business model is transit traffic.
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