Airbus has unveiled its Global Market Forecast 2025 for the region, spotlighting the Middle East as one of the fastest-growing aviation markets over the next two decades. According to the forecast, the region’s in-service fleet is set to surge from 1,480 aircraft in 2024 to 3,700 by 2044, underscoring a dramatic expansion driven by rising travel demand, economic strength and the region’s strategic geographic position.

Airbus projects the Middle East will require 4,080 new passenger aircraft deliveries over the next 20 years. This will comprise 2,380 single-aisle jets and 1,700 widebody aircraft, the WAM report noted.

Read more-Airbus A320 surpasses Boeing 737 as most-delivered jetliner

Widebody aircraft will account for 42 per cent of total demand, the highest share globally and more than double the world average of 20 per cent. This positions the Middle East as the leading driver of global wide body growth, supported by its strategic location as the geographic centre of gravity for worldwide air traffic continues to move eastwards.

Passenger traffic in the region is expected to grow at a compound annual rate of 4.4 per cent, buoyed by robust economic development, expanding tourism flows and rising trade activity. Over the same period, the regional population is projected to increase by 240 million, further amplifying the need for air travel.

“The Middle East is transforming global aviation, and the forecast fleet expansion is truly significant, particularly when it comes to wide bodies. This region is becoming the long-haul hub now and into the future. Airbus is proud to be partnering closely with customers in the region, delivering the most efficient, latest-generation aircraft, end-to-end support, and sustainable solutions,” said Gabriel Semelas, president of Airbus in Africa and Middle East region.

As aviation networks and traffic continue to expand, Airbus forecasts the need for more than 265,000 people to be employed in the sector over the next two decades. This includes 69,000 new pilots, nearly 64,000 new technicians and 132,000 cabin crew.

The regional commercial aviation services market is valued at about $30bn over the next 20 years.

Growth is expected primarily in maintaining aircraft availability, training, flight operations and Air Traffic Management solutions, as well as cabin upgrades and connectivity services.

Few destinations have rewritten their story as confidently as AlUla. Once known mainly to archaeologists and adventure seekers, it has become one of Saudi Arabia’s clearest examples of how tourism can be built with intention rather than speed.

In this conversation with Gulf Business, Phillip Jones, chief tourism officer at the Royal Commission for AlUla, breaks down how the destination is influencing the kingdom’s tourism momentum and its model that blends conservation, community, and culture into a single vision.

Saudi Arabia is leading global tourism spending growth, and AlUla is often cited as a model for purposeful tourism. How do you see AlUla’s approach contributing to the kingdom’s overall tourism success?

AlUla has become one of the most visible expressions of Vision 2030 in action, proving that tourism can drive cultural preservation, community empowerment, and sustainable economic growth. From the beginning, we’ve taken a long-term view of development that prioritises value over volume.

Every decision, whether infrastructure, partnerships, or visitor experience design, has been guided by the principles of purposeful tourism, creating experiences that enrich travellers while protecting what makes AlUla so unique.

Our contribution to the kingdom’s broader success lies in showing that growth and guardianship can go hand in hand. By focusing on conservation, creativity, and community, we’re building a model for responsible destination development that others across Saudi Arabia, and indeed the region, can learn from.

You’ve spoken about authenticity being central to AlUla’s development. What does “authenticity” mean in practice, and how do you balance it with the demands of international visitors seeking luxury experiences?

Authenticity isn’t a tagline for us – it’s a guiding principle. Everything we do starts with respect for AlUla’s stories, landscapes, and people. True luxury here isn’t imported, it’s embedded. It’s found in the stillness of the desert, in architecture that draws from ancient design traditions, and in the warmth of a community that welcomes visitors as guests, not tourists.

The modern traveller is looking for something deeper than material luxury. They want meaning, connection, and experiences that feel genuine. By grounding our hospitality in authenticity, we create something both elevated and emotionally resonant – a form of luxury that feels human.

Community uplift is a recurring theme in AlUla’s story. Can you share specific examples of how local communities are benefiting from tourism growth and how their role is being protected as development accelerates?

The people of AlUla are the heartbeat of this destination. More than half of our tourism workforce is local, and that number continues to grow as we expand training in hospitality, guiding, conservation, and creative industries. You can see the results everywhere – in new small businesses, from local tour operators to artisan collectives and farmers’ markets, all thriving from the opportunities tourism brings.

Just as importantly, we’ve built frameworks to ensure the community has a voice in shaping AlUla’s future. For us, success isn’t measured only in visitor numbers, but in how tourism can restore pride, revive traditions, and build lasting prosperity for those who call this place home.

Heritage protection is one of AlUla’s cornerstones. What lessons can other destinations take from your approach to safeguarding cultural and natural assets while still driving strong visitor numbers?

Conservation and tourism can complement one another when managed with the right intent. In AlUla, preservation always comes first. We cap visitation to protect our sites, invest heavily in archaeology and restoration, and design visitor experiences that encourage respect and reflection rather than overexposure.

We also treat heritage as a living force, not something frozen in time. Our “Living Museum” approach allows people to walk among ancient civilisations, learn from our rawis, and connect personally with thousands of years of human history. The message to other destinations is simple – protect what makes you distinctive, and travellers will value you for it.

With Saudi Arabia ranked among the top three globally in tourist arrival gains, what do you see as the next frontier for AlUla – what innovations or initiatives will define its evolution over the next five years?

The next chapter for AlUla is about deepening connection – moving from awareness to genuine aspiration. We’re entering a phase where every experience, every partnership, and every story is designed to build emotional resonance with visitors.

In the coming years, we’ll see the new arts and cultural spaces, boutique resorts that redefine desert luxury, and immersive experiences that use technology to bring history to life.

Equally important, we’ll continue to advance our sustainability commitments, from rewilding and regenerative agriculture to achieving carbon-neutral operations by 2035. Innovation for us isn’t about scale – it’s about significance.

AlUla has positioned itself as more than a tourism site – it’s also an open-air museum and a cultural exchange platform. How do you ensure this positioning resonates with both domestic and international audiences?

We’ve made a conscious effort to ensure AlUla’s story is inclusive and meaningful to both Saudi and international audiences. For global travellers, AlUla offers a rare opportunity to experience shared human heritage in an extraordinary natural setting. For Saudis, it’s a source of national pride and rediscovery – a place that connects them to their cultural roots while showcasing the kingdom’s creative future.

Through exhibitions and performances like Thikra in Paris and London, and collaborations with AFALULA, UNESCO, and the Smithsonian, we’ve built bridges of cultural dialogue. Our goal is for AlUla to be seen not just as a destination, but as a meeting point for culture, creativity, and understanding.

As global travellers increasingly seek purpose-driven journeys, how is AlUla shaping its marketing and partnerships to appeal to this new generation of mindful tourists?

Today’s travellers want meaning, connection, and authenticity – and AlUla delivers this by taking its story to the world through collaboration. Our approach extends beyond campaigns and advertising to genuine partnerships that connect people to our purpose.

Purpose for us isn’t a campaign – it’s how we operate. AlUla’s story is one that travels far beyond our landscape. We take it to the world through collaboration, culture, and creativity. Whether through exhibitions, performances, or global partnerships, we use every platform to spark curiosity and invite people to see what makes this place so special.

Our work with partners like AFALULA, UNESCO, and leading cultural institutions allows us to share AlUla’s heritage and innovation with audiences globally. These collaborations showcase not only our artistic and archaeological depth, but our values – sustainability, openness, and respect for culture.

We see marketing and communications as connection, not promotion. Every partnership, from the stage to the gallery, is an opportunity to build understanding and inspire travel that has meaning.

Read: AlUla Development Company CEO Fabien Toscano on developing the destination with purpose

Mastercard is taking another step toward bridging traditional finance and Web3. Through an expanded partnership with Circle, the payments giant will enable acquirers and merchants across Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in USDC and EURC, marking a major move toward integrating stablecoins into mainstream commerce.

Here, Prakriti Singh, EVP, Core Payments, EEMEA, Mastercard outlines how the initiative could reshape cross-border payments, remittances, and digital trade while positioning the company at the forefront of the shift to tokenised money.

What does this expanded partnership with Circle mean for Mastercard in EEMEA, and how will it directly benefit merchants and acquirers across the region?

We are actively working to integrate stablecoins, digital currencies designed to maintain a steady value, into the financial mainstream. We’d like to ensure they meet the same standards of convenience, security and dependability as traditional payments. Our goal is to invest in the infrastructure, governance and partnerships needed to support the evolution from fiat to tokenized and programmable money.

Our expanded collaboration with Circle means that for the first time, merchants and acquirers in Eastern Europe, Middle East and Africa (EEMEA) can leverage stablecoins across our global payments network and benefit from our trusted technology, reach and scale. This move will empower acquiring institutions to get their settlement in USDC or EURC – fully reserved stablecoins issued by regulated affiliates of Circle – which they can then use to settle with merchants.

This initiative highlights our role as a bridge between traditional finance and Web3, paving the way for a new era of efficient, trusted and inclusive digital trade across emerging markets.

How do stablecoins like USDC and EURC change the dynamics of settlement compared with traditional payment rails?

Stablecoins, like USDC and EURC, have the potential to complement and enhance existing payment infrastructures. Stablecoins are poised to play a growing role in the evolving cross-border payments landscape, helping people and businesses move financial value faster and with less friction. Operating on public, permissionless blockchains that function continuously, stablecoins provide near-real-time settlement capabilities globally, typically at minimal transaction costs.

In addition to powering more efficient financial transactions, stablecoins and their underlying blockchain technology could drive momentum toward innovations like faster settlement cycles for certain asset classes.

Our continued support of USDC, EURC, USDP, USDG, FIUSD and PYUSD lends itself to more integration as the ecosystem evolves.

By maintaining a multi-coin approach, we aim to spearhead the next wave of digital currency innovation while aligning with market needs and regulatory standards.

Remittances remain a critical payment flow in EEMEA — do you see stablecoin settlements helping reduce costs and increase speed in these high-volume corridors?

Remittances are one of the fundamental components of economic survival and stability. Some of the areas where we believe stablecoin culd add value is in reducing time and costs for cross-border remittances, enabling near-instant payouts for families, transforming how content creators and gig workers get paid, and powering programmable B2B transactions.

Traditionally, financial institutions pre-fund their cross-border payments service providers with fiat using a bank account. Pre-funding with stablecoins means that an FI can also use stablecoin to meet their obligation with their cross-border payment service providers. This can result in liquidity benefits.

Stablecoin networks operate continuously. We already enable this kind of settlement speed in consumer payments but this is not true in B2B more broadly. That’s why, stablecoins are increasingly being recognised for their potential to streamline business-to-business (B2B) transactions with their real time nature but also programmability.

Central bank digital currencies (CBDCs) are gaining traction globally. How do you view their role alongside stablecoins and e-money in transforming the payments ecosystem?

While the momentum for CBDCs has evolved, their development remains an important area of exploration for central banks worldwide. We are closely monitoring this space, alongside the growing adoption of stablecoins and e-money, as part of our broader commitment to payments innovation and digital transformation.

We are committed to enabling on our network that reaches hundreds of banks and millions of merchants with the currencies of choice for consumers within the framework of local regulations.

Our blockchain and digital assets experts are exploring the uses of the latest technology, its implementation and regulations, and will continue to push to be at the forefront of tech innovation.

Looking ahead, what adoption trends do you expect to define the next five years of digital payments in EEMEA, and how is Mastercard positioning itself to lead in that shift?

Businesses and consumers increasingly demand faster, simpler and more secure ways to transact, making innovation and trust critical in driving adoption. Over the next few years, we see an increase in tokenisation, deepening of adoption of AI in securing commerce, growth in agent assisted commerce and expansion of use cases for stablecoin particularly in cross-border and B2B.

We can also see that there could potentially be multiple digital assets across multiple chains and this is where we can play a role in delivering interoperability and bringing the bridge between centralized finance and digital assets world.

We’re committed to building the infrastructure and partnerships necessary to integrate secure and compliant digital assets into the global financial ecosystem. Through our Mastercard multi-token network (MTN), we’re creating a global framework to harness the potential of stablecoins, ensuring they are governed and trusted for everyday use.

Technologies are merging faster than ever, refining capabilities, generating new use cases and even creating new business models. In this dynamic landscape, we at Mastercard remain focused on stability, compliance and consumer protection.

Our role is to partner across the ecosystem, helping banks, fintech companies, regulators and businesses harness the potential of tokenisation and blockchain to unlock new opportunities.

The Dubai Airshow opens on November 17, with organisers expecting the largest edition in its history as global aerospace and defence companies gather to showcase new technologies and outline industry priorities.

The five-day event at Dubai World Central features more than 1,500 exhibitors, including 440 newcomers, and is expected to draw 148,000 trade visitors and 490 military and civil delegations from 115 countries, organisers said.

The 19th edition, which concludes on November 21, includes 21 national pavilions, 98 chalets and 8,000 square metres of additional exhibition space, alongside 120 startups and 50 investors.

More than 200 aircraft will be on display across flying and static areas, the biggest line-up to date.

Models include Joby Aviation’s eVTOL, General Atomics’ CCA, the Bristell B23 915 IFR, and newcomers COMAC C919 and C929.

The airshow has grown into a major global venue for investment discussions and new technology demonstrations, reflecting Dubai’s ongoing ambitions in aviation, defence, and space.

UAE expands space presence at Dubai Airshow

This year’s edition will host the largest Space Pavilion to date, held with the UAE Space Agency.

The pavilion will bring together international space agencies, companies, startups, investors and academic institutions, while a two-day conference will feature over 50 speakers discussing responsible space activity, new technologies and future exploration missions.

“Dubai Airshow represents a leading global platform to showcase the remarkable progress the UAE has achieved in the space sector,” said Ahmad Belhoul Al Falasi, Minister of Sports and chairman of the UAE Space Agency. He said the expansion reflects the UAE’s efforts to build “a comprehensive and sustainable space economy”.

Major General Mubarak Saeed bin Ghafan Al Jabri, ED of the Military Committee, said the airshow remains a venue for showcasing the UAE’s defence-sector investments and international partnerships. Several aerobatic teams will perform during the show.

Expanded conference programme

This year’s conference agenda will be the largest yet, featuring more than 450 speakers across four stages and 12 content tracks.

New themes include MRO, airport and airline keynotes hosted by Dubai Airports, advanced air mobility, workforce development, passenger experience, cybersecurity and airport technology.

Paul Griffiths, CEO of Dubai Airports, said the keynote track will bring together senior aviation leaders to discuss issues such as air traffic growth, digital transformation and sustainability.

He said the Sustainability Showcase, organised with dnata, flydubai and other partners, will feature a “world-first” fully sustainable aircraft turnaround.

First eVTOL flying display

Advanced Air Mobility will have an expanded presence, including the first eVTOL aircraft in the Dubai Airshow flying display, with Joby Aviation’s model set to perform. “This milestone reflects Dubai’s ambition to lead in advanced air mobility and progressive regulatory frameworks,” said Mohammed Abdulla Lengawi, director general of the Dubai Civil Aviation Authority.

Startups and youth focus

A new Inspiration Zone will host founders and early-stage companies, while the NextGen Leaders programme will highlight university research. Vista will return as the dedicated startup hub.

Sustainability will remain a central theme, with Sustainable Aviation Fuel for participating aircraft, electric and propane-powered ground operations in partnership with Jetex, and exhibition halls using renewable electricity.

The Better Stands Programme will promote reusable booth designs, while hydration stations and LEED-certified accommodation support broader environmental goals.

Night sessions and public displays

For the first time, the airshow will extend into evening hours with night-time networking events, including “Party on the Runway” at Skydive Dubai and “Airshow After Dark” with live entertainment and a drone show.

The public SkyView arena will host flying displays and family activities throughout the week, featuring aerobatic teams, meet-the-pilot sessions, food trucks and a new VIP viewing area.

Eighty six per cent of Middle Eastern companies say they already have a reinvention strategy in place and 82 per cent have accelerated their efforts over the past year, but only 9 per cent are progressing at scale, according to a new Accenture report.

The study, Building tomorrow’s economies: How generative AI will reinvent business in the Middle East, examines how organisations across the region are responding to the impact of generative AI and the broader shift toward digital competitiveness.

Accenture found that 76 per cent of business leaders believe generative AI could raise output per worker by more than 10 per cent within three years.

In Saudi Arabia, 38 per cent of working hours are considered in scope for automation or augmentation.

The report classifies companies into three groups: “Reinventors”, representing 9 per cent of organisations with a comprehensive strategy; “Transformers”, 77 per cent that have begun their reinvention journey, slightly below the global average of 81 per cent; and “Optimisers”, 14 per cent that have yet to start, above the global average of 10 per cent.

Among other findings, 81 per cent of Middle East executives expect to overhaul IT within three years, while 48 per cent say technical debt is hurting competitiveness and 44 per cent say it is hindering reinvention.

More than half, 52 per cent, cite sustainability as a key driver.

The report notes that hyperscalers such as Google, Microsoft and AWS have signed major agreements in the UAE and Saudi Arabia, accelerating regional adoption of AI infrastructure.

It highlights several developments this year, including HUMAIN, a Public Investment Fund-backed company that will manage Saudi Arabia’s AI services, data centres, cloud capabilities and Arabic LLM, and the UAE’s plan for a joint US-UAE AI campus spanning more than 10 miles in Abu Dhabi, described as the world’s largest effort of its kind.

Highlights of the Accenture report

Accenture reported a clear divide in generative AI expectations: 66 per cent of Reinventors see the technology as a source of revenue growth, compared with 34 per cent prioritising cost efficiencies.

Transformers are evenly split, while 76 per cent of Optimisers view generative AI mainly as a cost-cutting tool.

Reinventors, the report says, have achieved a 15 percentage-point premium in revenue growth and a six-point premium in profit growth since 2019. They are twice as likely as Transformers to track returns on generative AI investments and adjust priorities and 1.2 times more likely to consider significant business-model changes.

The report outlines five imperatives for reinvention with generative AI: leading with value, securing an AI-enabled digital core, reinventing talent and work models, closing the gap on responsible AI and pursuing continuous reinvention.

“The Middle East isn’t short on ambition or AI infrastructure, but too few organisations, less than 9 per cent in fact, are turning that into enterprise-wide reinvention,” said Ramez T Shehadi, Accenture’s Middle East and Africa strategy and consulting lead and global public sector strategy lead. “The real divide now isn’t between nations, it’s between institutions that scale fast and those that simply think about it.”