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P. 38
the forecast
Bombardier Business Aircraft | Market Forecast 2011-2030 38
Middle East
Business Jet Penetration Forecast - Middle East
Fleet per capita vs. GDP per capita, 1960-2030
1,000
2030
Fleet per 100 Million Population (Log Scale) 100
2010
10
Actual
Forecast
1960
1
Middle East recorded significant economic 100 1,000 10,000 100,000
GDP per Capita (USD, Log Scale)
growth between 2004 and 2008, an annual Sources: Ascend, IMF, IHS Global Insight, UN Population Project, Bombardier forecast. Includes very light jets.
6.7% on average, largely due to high oil
prices. In 2009, tight international credit,
plummeting oil prices and the global economic
slowdown inhibited Middle East's real GDP The beginning of 2011 witnessed the emer- In the Gulf states, oil production is expected
growth to 0.6%. 2010 saw the whole region gence of political unrest in North Africa and to increase in the short term to compensate
recover gradually with a 4.1% GDP growth. the Middle East. The "Arab Spring" resulted for losses in Libyan crude oil. Saudi Arabia
Recovery was largely driven by increasing oil in change in regimes in Tunisia and Egypt, will strongly benefit from this situation, and
revenues, improving exports, and state civil war in Libya, and civil troubles in Syria, thus will see its economy accelerate in 2011.
spending, the latter made possible by finan- Yemen, and Bahrain. The resulting uncertainty As well, government spending and exports
cial reserves accumulated by the Gulf states may somewhat damp confidence in this will continue to bolster overall activity in the
during the 2004-2008 prosperous period. year's economic outlook for the region. Kingdom.
Bombardier Business Aircraft | Market Forecast 2011-2030 38
Middle East
Business Jet Penetration Forecast - Middle East
Fleet per capita vs. GDP per capita, 1960-2030
1,000
2030
Fleet per 100 Million Population (Log Scale) 100
2010
10
Actual
Forecast
1960
1
Middle East recorded significant economic 100 1,000 10,000 100,000
GDP per Capita (USD, Log Scale)
growth between 2004 and 2008, an annual Sources: Ascend, IMF, IHS Global Insight, UN Population Project, Bombardier forecast. Includes very light jets.
6.7% on average, largely due to high oil
prices. In 2009, tight international credit,
plummeting oil prices and the global economic
slowdown inhibited Middle East's real GDP The beginning of 2011 witnessed the emer- In the Gulf states, oil production is expected
growth to 0.6%. 2010 saw the whole region gence of political unrest in North Africa and to increase in the short term to compensate
recover gradually with a 4.1% GDP growth. the Middle East. The "Arab Spring" resulted for losses in Libyan crude oil. Saudi Arabia
Recovery was largely driven by increasing oil in change in regimes in Tunisia and Egypt, will strongly benefit from this situation, and
revenues, improving exports, and state civil war in Libya, and civil troubles in Syria, thus will see its economy accelerate in 2011.
spending, the latter made possible by finan- Yemen, and Bahrain. The resulting uncertainty As well, government spending and exports
cial reserves accumulated by the Gulf states may somewhat damp confidence in this will continue to bolster overall activity in the
during the 2004-2008 prosperous period. year's economic outlook for the region. Kingdom.
