Market has not dodged impact of financial dip
In the business aircraft market, the oil-rich Middle East has been an extremely important source in recent years of wealthy customers with a seemingly insa

In the business aircraft market, the oil-rich Middle East has been an extremely important source in recent years of wealthy customers with a seemingly insatiable appetite for the largest, most sophisticated (and expensive) business jets available. As the economic slowdown turned into recession in the more mature North American and European markets over the past year, the Middle East was looked to as the region with the greatest prospect for weathering the storm relatively unscathed. However, the unprecedented scale of the financial crisis has impacted the Middle East harder than expected.

With all of the focus on the Middle East’s burgeoning growth in recent years, it is important to keep the actual size of the market in perspective. In reality, the region still amounts to only a tiny fraction of worldwide business aviation–at least for now.

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