The aviation industry’s growth is back on track following an appalling 2009, revealed a recent report by the International Civil Aviation Organisation (ICAO).
According to the ICAO, international airline passenger traffic is forecast to increase 6.9 per cent in 2010, a marked growth from its two per cent drop in 2009.
This positive forecast is in line with a global economic reawakening following the recent downturn, reported the Centre for Asia Pacific Aviation (CAPA).
Growing faster than the global average, airlines servicing the Asia Pacific will experience more aviation activity thanks to emerging economies, China and India, said the report.
While the Middle East, African and Latin American regions will also experience higher traffic growth with improving economic conditions, the ongoing economic weakness of North America will result in slower growth for that region’s airlines.
As the global economy expects more than four per cent annual growth for the next three years, the ICAO forecasts world traffic should grow at 4.7 per cent and 4.9 per cent for 2011 and 2012, respectively.
Source = e-Travel Blackboard: G.A