Gulf states spending billions to expand airports

Gulf countries are pumping billions of dollars into airport projects in order to keep pace with an increase in passenger traffic and strengthen their positions as regional hubs for global travel.

Over the past decade passenger traffic in the Gulf has far outpaced the global average as regional carriers have increasingly garnered a larger share of international traffic. Looking ahead, the International Air Transport Association (IATA) expects that in 2013 the Middle East will have the third-fastest regional growth rate for passenger numbers, at 6.6%, and will be the fastest growing for freight, at 4.9%. By 2020, Middle East airports are expected to be handling nearly 400 million passengers per year.

Much of the growth has been generated by the region's big three carriers, Emirates, Etihad Airways, and Qatar Airways, each of whom expanded their networks during 2012, signing codeshares or making equity investments.

Read more: http://www.ameinfo.com/gulf-spending-billions-expand-airports-330333