Emirati billionaire Khalaf Al Habtoor has calculated the extent of the economic damage that will be inflicted on Israel if Arab countries cease air travel with the Jewish state.
According to Detaly.co.il, Emirati magnate Khalaf Al Habtoor, the head of the Al Habtoor Group and one of the most influential entrepreneurs in the Persian Gulf region, has publicly called on all Arab countries to impose restrictions on air travel with Israel.
Al Habtoor commissioned a study to examine the consequences of a joint decision by Arab countries to close their airspace to Israeli planes and cease air travel with Tel Aviv. According to his calculations, such a measure would bring losses of $28 to $33.5 billion per year to the Israeli economy.
“We Arabs possess economic power that cannot be underestimated. With one decision, we can weaken the Israeli economy, undermine the foundations of its sustainable development, and force its leadership to reconsider its positions. Within a year, we can inflict damage ranging from $28 to $33.5 billion, not to mention disruptions in supply chains, tourism, and investments. We have prepared a detailed study on this issue and are providing it to decision-makers in our countries,” Al Habtoor wrote.
The entrepreneur also proposed that partners consider additional economic measures: reviewing investments in countries supporting Israel, reducing economic cooperation with organizations associated with it, and so on.
Previously, the Emirati magnate was an active supporter of the Abraham Accords. He is considered a key figure in the development of international economic ties in the region.
