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Aviation has never been an industry built for predictability. It has always existed at the intersection of geopolitics, economics, and technology, absorbing shocks as part of its operating reality. What has changed over the past twelve months is not the presence of disruption, but its permanence. Conflict, airspace closures, supply-chain constraints, and political tension are no longer episodic events to be managed and moved past. They are embedded conditions that determine the environment in which airlines operate.The past year has shown an industry operating at scale within that reality. Demand has held, investment has resumed, and networks have expanded, all with an acceptance that the global map will continue to shift, often abruptly, and rarely in aviation’s favour.Geopolitics has once again been a defining force. Airspace restrictions across Eastern Europe remain unresolved. Routes across parts of the Middle East and surrounding regions have required constant adjustment. Airlines have had to factor in longer routings, higher fuel burn, crew duty limitations, and reduced aircraft utilisation as standard operating assumptions, rather than contingency scenarios. This has reshaped network economics quietly but materially. Schedules have been tightened. Margins have been compressed. Planning horizons have shortened.Even so, the system has held. On the busiest day of the year, Friday August 1, global airlines scheduled just under 20mn seats worldwide. Even the quietest day of 2025 still saw more than 15mn seats in the air. This is an industry functioning at sustained intensity, absorbing friction while continuing to move people at scale.Where that activity has concentrated is telling. Asia-Pacific remains the dominant engine of global aviation, particularly across dense short-haul and medium-haul markets. High-frequency domestic routes continue to operate at extraordinary levels, with some corridors running more than one hundred flights a day. These are markets where fares are low, competition is relentless, and reliability is non-negotiable. Asia’s mass short-haul environment has become the global benchmark for cost discipline and operational execution.At the same time, infrastructure has reasserted its importance. Hong Kong International Airport’s return to growth has been one of the most consequential aviation developments of the year. The full activation of its third runway allowed the airport to add more new routes in 2025 than any other globally. This was not opportunistic expansion, but the result of long-planned capacity coming online at a moment when airlines were ready to deploy aircraft and continue to grow networks.Long-haul services were restored and expanded, regional connectivity deepened, and low-cost operators layered in additional short-haul reach. Hong Kong’s growth is about re-establishing confidence in a hub that once defined global connectivity in Asia. Infrastructure enabled the shift, but intent completed it.Fleet decisions over the past twelve months reinforce the same theme. Some of the largest aircraft orders in recent memory have been placed, most notably by Chinese airlines. The orders reflected long-term confidence in domestic and regional demand that is expected to grow steadily for decades. Narrowbody aircraft dominated those commitments, aligning with the reality that most future growth will come from high-density short-haul markets rather than long-haul prestige routes.Elsewhere, airlines have been equally deliberate. Orders placed over the past year have favoured flexibility over sheer size. Aircraft that can operate efficiently across a range of missions, adapt to shifting airspace constraints, and remain viable even when networks are disrupted. The lessons of recent years have been absorbed. Optionality matters. Resilience matters. Efficiency alone is no longer enough.For passengers, the most visible change of the past year has been experiential rather than structural. The arrival of genuinely fast, reliable inflight connectivity has altered expectations in a way few developments ever have. Starlink, in my view, has quickly become the most consequential disruption to the passenger experience in modern commercial aviation. Its impact is already evident in the number of airlines moving rapidly to secure partnerships, recognising that onboard connectivity is now expected to be as fast and as reliable as what passengers experience on the ground.Qatar Airways’ rollout of Starlink across its A350 and 777 fleets, with installations now underway on the 787 Dreamliners, captures that shift clearly. Passengers are responding to a strategic decision to treat connectivity as part of the core product, particularly on long-haul routes where time, continuity, and productivity matter most.Onboard, passengers can now stream live content, respond to messages in real time, and remain connected throughout a flight. The aircraft cabin increasingly feels integrated into everyday routines rather than detached from them.There is, however, a balance to be struck. One of the understated pleasures of long-haul travel was once enforced disconnection. Hours where emails waited and notifications paused were once part of the appeal. The technology now offers choice rather than constraint. Airlines that handle this well will be those that provide seamless connectivity without making constant engagement feel obligatory. In a world defined by permanent alerts, the option to switch off still carries value.Beyond technology, 2025 has also clarified how uneven global aviation growth remains. Asia-Pacific continues to lead by volume. The Middle East remains a critical connector, supported by investment and expanding domestic markets, while also seeing a rise in point-to-point travel as cities seek to attract visitors rather than merely transiting passengers. Europe is growing more slowly, shaped by rail competition and regulatory pressure. North America remains vast and stable, with airlines focused less on expansion and more on execution and yield.Threaded through all of this is an industry that has accepted a harder truth. Disruption is not temporary. Airspace will remain contested. Supply chains will remain tight. Political risk will continue to intrude on network planning. The question is no longer how to return to normal, but how to operate effectively without it.What makes the past twelve months notable is not a single headline or milestone. It is the quiet recalibration underway across the industry. Airlines are investing with intent, not exuberance. Airports are expanding where infrastructure allows, not where optimism alone suggests. Technology is being adopted where it delivers genuine value rather than novelty.For all the talk of transformation in aviation, the most revealing shifts are often the least theatrical. The industry is learning to run tighter networks, to plan around constraint rather than assume stability, and to treat the passenger experience as an end-to-end system rather than a collection of onboard features. In that sense, 2025 has been less about expansion than refinement, with airlines and airports doing the hard, unglamorous work of making global mobility function more reliably in the world as it is.The author is an aviation analyst. X handle: @AlexInAir. 

For 124 years, the Nobel Prize has stood as one of the world’s most respected distinctions, recognising discoveries and ideas that advance humanity. The prize was founded by Alfred Nobel, the Swedish chemist, engineer and industrialist whose inventions in explosives, including dynamite and safer detonation systems , built a vast international fortune. In his will, Nobel directed that this wealth should be used to honour individuals who had “conferred the greatest benefit to humankind”, turning personal success into a global legacy of progress. On 10 December, the anniversary of Alfred Nobel’s death, the world honours the 2025 Nobel Laureates. Nobel Day has become a defining moment in international recognition, celebrating achievements in science, literature, economic thought and peacebuilding. The 2025 awards speak directly to the challenges shaping the modern era: the defence of democracy, advances in medical research, breakthroughs in quantum physics, climate-relevant materials, deeper insights into innovation and a literary voice that captures the anxieties of contemporary life. From María Corina Machado’s struggle for democratic freedoms to discoveries in immunology, chemistry, physics and economics, and the visionary writing of László Krasznahorkai, the 2025 Nobel Prizes illustrate what becomes possible when knowledge, creativity and courage converge. The 2025 laureates, announced in October, are celebrated at a moment of political strain, rapid scientific progress and global transformation. Nobel assigned the Peace Prize to Norway’s Parliament because, at the time he wrote his will, Sweden and Norway shared a union but had separate governments. Norway’s reputation for diplomacy made it, in his view, the most credible guardian of a prize dedicated to peace. That tradition continues today: the Peace Prize is presented in Oslo, while all other Nobel Prizes are awarded in Stockholm in the presence of His Majesty King Carl XVI Gustaf of Sweden.The 2025 Nobel laureates and their motivations**media[391542]**Nobel Peace Prize:Democracy defended in VenezuelaMaría Corina Machado receives the Peace Prize for her determined efforts to restore democratic freedoms in Venezuela. Despite intimidation, political exclusion and exile, she has become a leading figure in peaceful resistance to authoritarian rule. Her recognition underscores global concerns about the fragility of democratic institutions.Nobel Prize in Literature:The visionary voice of László KrasznahorkaiHungarian novelist László Krasznahorkai is honoured for his compelling and visionary body of work. His long, flowing prose and themes of collapse, transformation and spiritual unrest have shaped contemporary literature across Europe, Asia and the Americas.Nobel Prize in Medicine:Understanding the immune system’s self-controlMary E. Brunkow, Fred Ramsdell and Shimon Sakaguchi receive the Medicine Prize for pioneering discoveries on regulatory T cells, the immune system’s mechanism for preventing attacks on the body’s own tissues. Their work has reshaped modern immunology and opened new avenues for treating autoimmune disease, cancer and transplant rejection.Nobel Prize in Physics:Quantum mechanics at human xcaleJohn Clarke, Michel H. Devoret and John M. Martinis are recognised for demonstrating quantum tunnelling and energy quantisation in macroscopic electrical circuits. Their findings proved that quantum effects extend far beyond the microscopic realm and laid the foundation for superconducting qubits, accelerating efforts to develop practical quantum computers.Nobel Prize in Chemistry:Materials for a climate-challenged centurySusumu Kitagawa, Richard Robson and Omar M. Yaghi are awarded the Chemistry Prize for developing metal–organic frameworks, or MOFs, a class of materials with immense internal surface area and critical environmental applications. MOFs have become central to carbon capture, hydrogen storage and water harvesting, making this research vital in a climate-constrained world.Prize in Economic Sciences:Innovation as the engine of prosperityJoel Mokyr, Philippe Aghion and Peter Howitt receive the Prize in Economic Sciences for theories explaining how technological innovation drives long-term economic growth. Their work clarifies why societies prosper when they embrace new ideas, offering insights that resonate strongly in an age defined by artificial intelligence, automation and global economic change. From democracy and literature to immunology, quantum physics, climate-focused chemistry and the economics of innovation, the 2025 Nobel Prizes reflect the most pressing questions of our time. They also reaffirm Alfred Nobel’s vision: that human progress depends on curiosity, creativity and the courage to challenge accepted limits. Awarded for more than a century, the Nobel Prizes continue to define what the world values most. In 2025, they once again highlight the individuals whose ideas and achievements are helping shape the future.

German Finance Minister Lars Klingbeil affirmed that his country seeks balanced economic relations with China based on equal opportunities, noting that closer ties between the two nations are essential for protecting supply chains amid rising global tensions, particularly those linked to the war in Ukraine.Klingbeil stated that Germany does not fear economic competition with China, provided that such competition remains fair and based on clear rules.He pointed out that direct dialogue with Beijing has become necessary to protect German industries and the jobs associated with them. He said that Germany faces real challenges with China, including China's excess production capacity in sectors such as steel and electric vehicles, as well as the difficulty in accessing rare earth elements essential for industrial technologies.The German Finance Minister begins a visit to China later today as part of the German government's efforts to reopen economic dialogue channels with Beijing after a period of trade tensions. During the visit, he will also participate in the third round of the High-Level Financial Dialogue between the two countries, a bilateral mechanism aimed at addressing the most sensitive economic issues between the two sides.

Under the patronage of His Excellency the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani, Qatar University (QU) launched the 8th International Conference on Entrepreneurship for Sustainability and Impact (ESI 2025), organised by the College of Business and Economics under the theme "Frontier Technologies for Resilient Economies." The opening ceremony was attended by His Excellency Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal al-Thani, and His Excellency President of QU, Dr.- Omar Mohammed al-Ansari, along with a distinguished group of senior officials and international experts.Recognised as one of the region’s leading academic gatherings, ESI 2025 convenes over 600 scholars, researchers, policymakers, and business leaders from more than 50 countries to explore how emerging technologies such as Artificial Intelligence, blockchain, the Internet of Things, quantum computing, robotics, and advanced data analytics are shaping the future of business, entrepreneurship, and sustainability.In her keynote remarks, Prof Rana Sobh, Dean of the College of Business and Economics and Conference Chair, emphasised the urgency of fostering innovation and adaptability in a world defined by rapid technological disruption and global uncertainty."Resilience is not the absence of crisis-it is the ability to evolve through it. The technologies we discuss here - AI, quantum computing, blockchain, and others-are not just tools of efficiency; they are catalysts for imagination and progress. Yet, their success depends on people-their creativity, wisdom, and courage to act responsibly. ESI 2025 is a forum for shaping that collective vision: to build economies that are strong, inclusive, and forward-looking," she stated.The Business Consortium, a distinguished feature of ESI 2025, brought together policymakers, entrepreneurs, and executives from across sectors to discuss Fintech and Financial Transformation, Government Institutional Excellence in the Era of Innovative Technology, Technology for Climate and Sustainability, and AI in Education and Humanitarian Affairs.In his remarks, Dr Mohammed El Gammal, Chair of the ESI 2025 Organising Committee from QU, highlighted the continued success and growing global participation of the conference. "The International Conference on Entrepreneurship for Sustainability and Impact is now in its eighth consecutive year, and this edition has attracted over 650 research papers from around the world." Dr Jim Adams, a former deputy chief technologist at Nasa, gave the opening keynote address. He shared insights from his extensive global experience in space technology and innovation, emphasising that the true impact of technology lies in our ability to empower people to use it effectively.The conference also featured Dr. Sui Sui (Toronto Metropolitan University, Canada), Dr. Khaled Hussainey (Bangor Business School, UK), Dr. Adel Ben Youssef (Université Côte d’Azur, France), and Dr. Arman Eshraghi (Cardiff Business School, UK), among other leading academics who addressed digital entrepreneurship, sustainable finance, circular economy strategies, and global supply-chain resilience.Dr. Amna Al Ansari, Director of the Strategic Innovation, Entrepreneurship, and Economic Development Office at QU, highlighted the university’s growing role in cultivating innovation among students and researchers. "Through its innovation and entrepreneurship framework, QU ensures that creative ideas are not confined to classrooms-they are transformed into startups, social enterprises, and technologies with real impact. Student-led innovations, such as assistive technologies for the deaf and visually impaired, are prime examples of how research at QU is making a tangible contribution to national development and global knowledge." In parallel sessions, participants presented over 90 peer-reviewed research papers across 17 thematic tracks, addressing subjects ranging from digital transformation and smart cities to circular economy and climate adaptation. The Meet the Editors forum allowed early-career researchers to engage with editors from leading international journals, while the PhD Symposium offered doctoral candidates mentorship and feedback from senior scholars.The conference concluded with a Women Entrepreneurs Forum, celebrating female innovators and researchers who are advancing inclusive economic development in the region.

Qatar University’s (QU) College of Business and Economics continues the Business Mastery Programme—Fall 2025, organised by the Learning Support Section in collaboration with the Centre for Entrepreneurship. The program is designed to equip third- and fourth-year students with the practical skills in entrepreneurship and management necessary for a seamless transition from academic study to the professional environment, while enhancing their preparedness to meet the demands of the labour market through an integrated approach combining theoretical knowledge and hands-on experience. For this academic year, the programme consists of four comprehensive workshops, three of which have been conducted so far. This year, the emphasis is on the development of skills in entrepreneurial thinking, entrepreneurial marketing, psychological resilience and adaptation in entrepreneurship, and innovation management. The interactive workshops are led by members of the Centre for Entrepreneurship: Maisoun Sewailem, Faten Ramadan, and Hamza al-Sioufy. Fatema Khalil Hasan, head of the Learning Support Section at the College of Business and Economics, emphasised the holistic educational value of the programme, currently in its third edition and enabling students to acquire core personal and professional skills.

The Nobel prize in economics was awarded on Monday to American-Israeli Joel Mokyr, France's Philippe Aghion and Canada's Peter Howitt for work on how technology drives and affects growth.Mokyr, 79, won one half of the prize "for having identified the prerequisites for sustained growth through technological progress", the Royal Swedish Academy of Sciences said.Aghion, 69, and Howitt, 79, shared the other half "for the theory of sustained growth through creative destruction", it added.John Hassler, chair of the prize committee, told reporters their work answered questions about how technological innovation drives growth and how sustained growth can be maintained."During almost all of humankind's history, living standards did not change noticeably from generation to generation. Economic growth was, on average, zero, and stagnation was the norm," Hassler said.But over the last two centuries "things have been very different.""During the last 200 years, the world has seen more economic growth than ever before in human history," Kerstin Enflo, a member of the economics prize committee, explained to reporters.However, she cautioned that "200 years is still just a short period compared to the long run history of stagnation that we saw before.""The laureates' work reminds us that we should not take progress for granted. Instead, society must keep an eye on the factors that generate and sustain economic growth," Enflo said.Mokyr, who is a professor at Northwestern University in the United States, "used historical sources as one means to uncover the causes of sustained growth becoming the new normal", the jury said in a statement.He was spotlighted for demonstrating that if "innovations are to succeed one another in a self-generating process, we not only need to know that something works, but we also need to have scientific explanations for why"."The latter was often lacking prior to the industrial revolution, which made it difficult to build upon new discoveries and inventions," the jury said.Speaking to the Nobel Foundation, Mokyr said he had first missed the call from Sweden and that the news was "overwhelming"."Everybody says this, but I'm really being truthful ... this came as a total surprise," the economic historian said."I had a whole list of people that I thought were going to win, and I wasn't on it," he added.Meanwhile, Aghion and Howitt created a mathematical model for "creative destruction", which refers to the process "when a new and better product enters the market, the companies selling the older products lose out".Howitt is a professor emeritus of economics at Brown University in the United States, while Aghion is a professor at College de France and INSEAD in Paris and the London School of Economics and Political Science."I'm still speechless. It came really as a huge surprise," Aghion told reporters via telephone during the prize announcement.Speaking about what could risk upsetting growth, he mentioned the threats of steep tariffs introduced since US President Donald Trump's return to the White House."Openness is a driver of growth. Anything that gets in the way of openness is an obstacle to growth," Aghion said.French President Emmanuel Macron congratulated his compatriot."With his vision of growth through innovation, he illuminates the future and proves that French thinking continues to enlighten the world," Macron said in a post on X.The economics prize is the only Nobel not among the original five created in the will of Swedish scientist Alfred Nobel, who died in 1896.It was instead created through a donation from the Swedish central bank in 1968, leading detractors to dub it "a false Nobel".But like the Nobels in chemistry and physics, the Royal Swedish Academy of Sciences chooses the winner and follows the same selection process.The economics prize wraps up this year's Nobel season which honoured research into the human immune system, practical applications of quantum mechanics and the development of new forms of molecular architecture.The literature prize went to Hungarian author Laszlo Krasznahorkai, whose works explore themes of postmodern dystopia and melancholy.Venezuelan opposition leader Maria Corina Machado was given the highly watched Nobel Peace Prize.The Nobel economics prize consists of a diploma, a gold medal and a $1.2 million cheque.

Qatar's renewed commitment to the North Field gas expansion will provide a big medium-term boost to the country's economy, according to Oxford Economics.The country grew by 1.9% year-on-year in the second quarter or Q2 of 2025, reflecting the economy's resilience against the regional and global headwinds, although the energy sector and the less supportive base from last year dragged on activity, Oxford Economics said in its latest research note.The non-hydrocarbon economy grew by 3.4% year-on-year, lifting the headline GDP (gross domestic product) by 2.2 ppts, but the oil sector contracted by 0.9% year-on-year, shaving 0.3 ppts from headline GDP growth, it said.On an annualised basis, Q2's expansion reflected strong performances from construction, trade, accommodation services, and the arts, entertainment, and recreation sector, it said, adding the manufacturing made a second consecutive positive contribution to annual growth in Q2.Keeping its 2025 growth forecast at 2.7% year-on-year but expecting the rate to nearly double in 2026-27 as the energy and non-energy sectors should contribute positively this year and beyond; it said "the authorities’ renewed commitment to the North Field gas expansion will provide a big medium-term boost, with North Field East's first production increase due by mid-2026, followed by the North Field South phase."Qatar targets LNG (liquefied natural gas) capacity target of 142mn tonnes per annum (Mtpa) by end-2030; up nearly 85% from the current 77Mtpa, and up 13% on the intermediate target of 126Mtpa by 2027.The first production boost will come from the North Field East project by mid-2026, followed by the North Field South phase of the expansion. The North Field West phase is in its early stages, with construction likely to begin in 2027."We forecast non-energy sector growth of 3.6% this year and a similar number in 2026, up from 3.4% in 2024," Oxford Economics said.Accordingly, Qatar's fiscal surplus is expected to improve from 0.7% of GDP in 2024 to 1.7% this year and further to 5.4% by 2026.On consumer price index (CPI) inflation front, the research note said it is expected to be 0.3% this year but would jump to 2.6% in 2026.The research note also said Saudi equity market may revive as cap on foreign ownership eases. "The Saudi equity market has underperformed its GCC peers year-to-date, but a higher foreign ownership limit could be a positive catalyst, reigniting global investor interest. Combined with expectations of resilient consumption growth, we see Saudi equities offering compelling investment value and expect the strong upward momentum to continue," it said.Dubai consolidated its global leadership in Greenfield foreign direct investment (FDI) in the first half (H1), attracting a record 643 projects and $11bn in FDI inflows (up 62% year-on-year), highlighting the strong investor confidence in robust economic fundamentals amid the heightened global uncertainty."We believe the combination of lower rates, strong employment growth, contained inflation, and a robust fiscal position creates a favourable environment for sustained growth and economic transformation. We forecast UAE GDP growth of 4.9% in 2025, underpinned by recovering oil production and an expansion of non-oil business activity, where FDI continues to play a pivotal role," Oxford Economics said.

Qatar’s PMI climbing to 51.9 in August indicates accelerating non-oil private sector activity in the country, according to Oxford Economics.Last month, the PMI climbed to 51.9, which Oxford Economics noted is “fuelled by the fastest job creation and employment growth in the region”.Business activity in the GCC’s non-oil private sector continued to strengthen in August, Oxford Economics said.The UAE’s PMI rose to 53.3 from July’s four-year low of 52.9, driven by faster output growth. Saudi Arabia’s PMI edged up slightly to 56.4, supported by stronger client demand and infrastructure projects.“Overall, the GCC's non-oil private sector has seen sustained expansion this year, and we expect 4% growth in the region's non-oil output this year,” Oxford Economics said.In Saudi Arabia, credit growth slowed to 15.2% y/y in August but remained well above deposit growth of 8.4%. A sharper drop in mortgage lending suggests softer real estate activity, although consumer credit stayed strong.“We expect early interest rate cuts to support credit demand, likely pushing the average loan-to-deposit ratio to a new high. This could raise liquidity concerns in the coming months, especially if deposit growth continues to lag,” Oxford Economics noted.In a recent report the researcher noted Qatar's fiscal balance is estimated to scale up to 5.4% (of country’s GDP) in 2026 from 1.8% this year.A growing fiscal balance signals improved macroeconomic stability and a stronger ability to manage government debt in the country, an analyst noted.In an indication of the country’s level of international competitiveness, Qatar’s current account will improve further reaching 18.3% of the country’s GDP in 2026, from 17.5% this year.Qatar’s real GDP growth has been forecast at 2.7% year-on-year (y-o-y) this year, rising to 4.8% in 2026.Inflation has been forecast at 0.4% this year and 2.8% in 2026.In its last country report, Oxford Economics noted Qatar’s GDP growth “will more than double” in 2026-2027, with both the energy and non-energy sectors contributing positively this year and beyond, according to Oxford Economics.

Qatar’s GDP growth will more than double in 2026-2027, with both the energy and non-energy sectors contributing positively this year and beyond, according to Oxford Economics.The researcher’s 2025 GDP growth forecast is unchanged at 2.4%, similar to the pace of expansion last year. However, trade-related uncertainty will remain a headwind to global demand, it said in a country report.Oxford Economics thinks growth in Qatar’s energy sector will remain modest this year, following a 0.6% expansion in 2024, before picking up strongly in 2026-2027.According to Oxford Economics, Qatar isn't involved in the OPEC+ pact on production quotas and its oil output has been relatively flat in recent years, at around 600,000 barrels per day.Last year, the authorities doubled down on the North Field gas expansion project, which will have a positive medium-term impact. Qatar raised its liquefied natural gas capacity target to 142mn tonnes per year by end-2030.This is up nearly 85% from the current 77mtpy, and up 13% on the intermediate target of 126mtpy by 2027. The first production boost will come from the North Field East project by mid-2026, followed by the North Field South phase of the expansion.The North Field West phase is in its early stages, with construction likely to begin in 2027.Qatar is also making progress in contracting future gas output. The government has signed long-term supply contracts with India, China, France, Germany, Hungary, Kuwait, and Taiwan, and is negotiating a deal with Japan.Output data (reported in April this year) showed the non-energy economy expanded by 3.4% last year, and the researcher projects the same pace of growth in 2025.The 2025 budget targets a deficit of QR13.2bn (1.6% of projected GDP). The authorities plan to raise spending by 4.6% relative to last year's budget and 1.2% relative to realised expenditure, with a strong focus on development in education and healthcare. The bill assumes an average oil price of $60/barrel.It projects a surplus of QR23bn (2.8% of GDP), larger than the surplus of QAR5.6bn (0.7% of GDP) realised in 2024. The researcher sees the balance improving to 5.7% of GDP next year amid the LNG production boost.Oxford Economics also noted tourism has provided significant support to non- energy growth and will remain a driver of future activity and employment.Qatar welcomed 5.1mn overnight arrivals in 2024, a 25% increase on 2023 and 138% higher than 2019 levels. The launch of the pan-GCC visa will likely help extend the positive performance and we forecast arrivals to increase to 5.3mn this year, it said.