All progress is met with at least a few challenges, something Asia’s aviation industry is beginning to realize. A recent study commissioned by the IATA shows unprecedented growth in Asia’s air travel industry; however, there is concern development of aviation infrastructure in Asia is not keeping up with the substantial increase in demand.
The IATA report found air travel in Asia will be greater than in Europe and North America combined by 2030. This growth has a great number of potential benefits for the region, such as the reported 33.7 million jobs and $705 billion in gross domestic product the industry already provides the region. Projections show by 2035, air travel in Asia Pacific will support nearly 72.3 million jobs and nearly $1.3 trillion in GDP, which is an increase of 215 percent.
However, this economic growth is contingent on whether or not the region is able to accommodate such rapid growth. In order to meet demands, airports in the region will need to significantly increase capacity of terminals and runways, but many have already reached or surpassed this capacity.
Beijing Capital International, the second-busiest airport in the world, saw 2.2 billion air passengers in 2014, which is already over capacity, and is expected to see around 4.4 billion by 2035. Hong Kong (HKG) is currently operating beyond terminal capacity, and Southeast Asia is seeing safety issues due to overcrowding and aging infrastructure in Jakarta (CGK).
Asia sits on the precipice of extraordinary economic growth in the aviation sector of the region’s economy — if it is able to supply what is necessary to meet quickly growing demands.
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