Aviation contributes $470B in Asia-Pacific
Over 24 million jobs and US$470 billion in GDP in the Asia-Pacific region are supported by aviation, according to a new report released today at the Aviation and Environment Summit in Geneva.
April 1, 2012
By Donald Urquhart
Over 24 million jobs and US$470 billion in GDP in the Asia-Pacific region are supported by aviation, according to a new report released today at the Aviation and Environment Summit in Geneva. The report, ‘Aviation: benefits beyond borders,’ was produced by the Air Transport Action Group (ATAG) and Oxford Economics. It outlines an industry that plays a larger role in both the Asia-Pacific and global economy than many would expect.
“In the Asia-Pacific region alone aviation directly employs over two
million people,” says Paul Steele, executive director of ATAG, the global air transport association. “If we include indirect employment at suppliers to the industry, induced employment from spending by
aviation industry employees and the jobs in tourism that air transport makes possible, this increases the regional figure to 24.1 million jobs. In addition, Asia Pacific economies derive substantial
benefits from the spending of tourists travelling by air.
“Of course, aviation’s economic benefits spread far beyond the monetary aspects outlined here. When you take into account the further benefits gained through the speed and reliability of air travel, the businesses that exist because air freight makes them possible and the intrinsic value to the economy of improved connectivity, the economic impact would be several times larger,” adds Steele.