Dubai air show bucks the trend

Dubai: The 11th edition of the Dubai Air Show, which takes place amid a global financial crisis, reflects the resilience in the economy of the Gulf region, especially the UAE's, officials said.

"Boeing is convinced that the region continues to hold great potential for growth in the aerospace sector including aircraft, infrastructure expansion, services and financing," James McNerney chairman, president and chief executive officer of The Boeing Company, said.

According to an International Air Transport Association report released in July, the Middle East was the only region in the world with a consistent increase in passenger traffic for the first half of this year.

While global air traffic numbers declined, the Middle East defied global trends and predictions.

Meanwhile, the five-day Dubai Air Show could contribute roughly Dh250 million to Dubai's economy, including Dh183 million ($50 million) coming from the 25,000 foreign visitors.

"We are bucking the trend and delivering strong messages that the economy is doing very well," said Alison Weller, director of Aerospace, Fairs and Exhibitions — organisers of the show "Despite the economic crisis, we've achieved 10 per cent growth in the number of exhibitors. Space selling is much harder than one could imagine. We're very fortunate to record growth under such difficult circumstances."