The business of… Private air travel
Middle East execs are disregarding those nagging fears about corporate excess, and are choosing to travel abroad in style.
May 11, 2010 3:39 by kippreport
While rising GDP in the region is expected to sustain demand for private jets, don’t overlook the rising number of super rich in the Middle East – a key driver in market. Just five years ago, there were an estimated 250,000 ‘High Net Worth Individuals’ in the region. That number is expected to reach 700,000 by 2012, amounting to around 5 percent of the global total.