The Middle East air cargo industry continues to show signs of resilience, despite slouching global demand thatled to sharp drop in this year’s air cargo growth projections.

Supported by the regional economic boom, the regional air cargo industry grew more than seven times ahead of the global industry in the first seven months of 2008 to maintain the top growth rate in the industry.

According to the latest figures by the International Air Transport Association (Iata), demand for air cargo grew by 12.9 per cent in the first half of 2008, the highest in the industry.

“The Middle East has been significantly outpacing the global projection of about five per cent growth per year between 2007 and 2011. The air cargo growth driver in the Middle East is undoubtedly the infrastructure developments taking place,” said Des Vertannes, Etihad Crystal Cargo’s senior VP for Cargo.

Additional revenues from high oil prices have enabled countries across the region to enhance their investments in projects linked to tourism, develop nonoil and gas industries, health, education and transport infrastructure.

The demand for cargo in the regional market, fuelled by economic expansion, is set to maintain the growth of regional air freighters throughout 2008 and the coming few years.

The Middle East region will invest more than $260 billion (Dh954bn) in 20 years to expand its air fl eet and a significant number of planes will be dedicated for the freight business given the demand for fast deliveries in the region.

“Abu Dhabi alone is home to around 1.4 million people and it is estimated that this will rise to between three and five million people by 2030, as the city becomes an even more important regional hub for business and tourism,”added Vertannes.