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Browsing: Global aviation market
The African aviation market will increase by 200 million passengers, to over 356 million by 2038, this is according to the International Air Transport Association (IATA) latest forecast. IATA also predicts that over the next two decades, the Kenyan market could more than double in size, resulting in an additional 11.3 million passenger journeys, over 449,000 more jobs and a US$11.3 billion (Ksh1.1 trillion) boost to GDP by 2038.
Speaking during the 2019 Routes Africa forum that was attended by over 250 delegates, international delegates, Raphael Kuuchi, Vice President, Africa, IATA, said Africa’s aviation industry projected growth represents a compound annual growth rate (CAGR) of about 4.6 percent of the continent’s total market size.
While making his keynote address during the opening ceremony, Mr Kuuchi, Vice President, Africa, IATA said “Routes Africa is critical to the development of air services on the continent and these forums have made a real …