“History shows that as economies develop and populations gain wealth, one of the first things they do is fly.”
Todd Saligman, Investment Analyst
As Disposable Income Rises, Travel Becomes an Affordable Luxury
Developing countries are fueling the world’s air traffic growth. The Asia-Pacific region, including India and China, will drive half of the world’s air traffic growth during the next 20 years. In China alone, the number of people flying could double to 100 million during that time.
Going Places: People Around the World Are on the Move
China started working on a new airport near Beijing on December 26, 2014. The airport, which is being designed by Netherlands Airport Consultants, is expected to be completed in 2018 and cost about $14 billion.
China leads the world in airport construction, and this will be Beijing’s second international airport. But airports are taking off all around the world. Globally, $543 billion worth of projects are in progress, according to research by CAPA Centre for Aviation.
The Rise of a New Jet Set Means 38,000 Planes May Be Built in the Next 20 Years
Asia-Pacific region, including China and India, is driving much of the increase in the world’s air traffic. Millions of people are taking to the skies in that region. The demand is expected to be so great that Boeing, one of the world’s largest airplane makers, predicts that 38,050 new planes, valued at $5.6 trillion, will be in the air by 2034.