IATA has revealed figures that show the Middle East long haul market is countering the trend in Asia and Europe for not displaying signs of frailty.
“The slowdown in growth overall is reflecting frailty in economic performance in Europe and Asia, rather than the Middle East, for example,” an IATA statement read.
“Major economies in the Middle East, including Saudi Arabia and the United Arab Emirates, continue to show robust economic performance,” it continued.
Indeed all signs, including business activity, show sustained economic growth ahead, with the latest whole economy PMI for the United Arab Emirates surging strongly at the start of Q4 to reach the highest level since the Indices’ creation (2008).
This is in comparison with the North America – South America total market, which has also been weak, falling 2.1% in November compared to a year ago.