Aviation driving growth in Latin America

Growth in aviation and related security business is driving economic growth in Latin America and the Caribbean where it has created more than four million jobs and contributed US$107 billion to national earnings, according to a report by the Air Transport Action Group and Oxford Economics.


aviation security business


Growth in aviation and related security business is driving economic growth in Latin America and the Caribbean where it has created more than four million jobs and contributed US$107 billion to national earnings, according to a report by the Air Transport Action Group and Oxford Economics.

Global air freight carried annually amounted to 35 per cent of the
value of world trade but only 0.5 per cent of the volume, according to the study. The study indicates that the sector has emerged as a key driver for development in economies that ranged from lowincome and small to dynamic emergent giants such as Brazil and Chile. The report, ‘Aviation: Benefits Beyond Borders,’ outlines an industry that its authors say plays a larger role in Latin America, Caribbean and global economy than many would expect. In Latin America and the Caribbean alone aviation directly employs over 465,000 people, according to the study.

“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 4.6 million jobs,” ATAG executive director Paul Steele said. “Aviation’s economic benefits spread far beyond the monetary aspects,” said Steele.