China drives global air travel market eastward

Source:Xinhua-Global Times Published: 2018/10/29 22:48:39

The global aviation sector is witnessing an apparent eastward trend as the Asia-Pacific market is set to maintain growth, with China as the major impetus.

Global air passenger volume could double from the current level to 8.2 billion in 2037, with an increasing "eastward" shift, the Xinhua News Agency reported on Monday, citing the International Air Transport Association (IATA).

"We forecast that over the next 20 years, China's annual market growth will be, on average, around 5 percent," said Alexandre de Juniac, IATA's director general and CEO.

China has seen double-digit growth over the past decades in the domestic civil aviation market, he told Xinhua during a telephone press conference call to discuss the forecast.

Alongside China rebalancing its economy toward consumption, air traffic to, from and within the country is set to continuously grow over the long term, according to the IATA.

"China is the most exciting and dynamic market in the world. The continuous growth in its economy and middle class sustains the country's upward civil aviation market," said Randy Tinseth, vice president of commercial marketing for the Boeing Co.

China is forecast to become the world's largest aviation market by around 2024 to 2025, said the forecast.

Besides the surging domestic aviation market, China will also be a key player in the international air travel market alongside its continuous opening-up and the rising enthusiasm of Chinese consumers for global travel.

Five of the top 10 international routes will touch China by the end of 2037, up from the current three, according to IATA.



Posted in: ECONOMY

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