India is set to become the third largest aviation market in the next
twenty years by adding 266 million passengers, thus taking over the
United Kingdom.
"Currently the ninth largest market, India will see a total of 367 million passengers by 2034, an extra 266 million annual passengers compared to today. It is an exciting prospect to think that in the next 20 years, more than twice as many passengers as today will have the chance to fly," said Tony Tyler, director general and CEO of International Air Transport Association (IATA).
He added, "Air connectivity on this scale will help transform economic opportunities for millions of people. At present, aviation helps sustain 58 million jobs and $2.4 trillion in economic activity. In 20 years' time we can expect the global aviation to be supporting around 105 million jobs and $6 trillion in GDP".
According to the findings of IATA, the Indian domestic aviation market is pegged to grow at 6.9% while adding 159 million extra passengers on its domestic routes.
At the 10th Indo-US Economic Summit organized by Indo America Chambers of Commerce, experts suggested that the aviation industry in India could also further cement ties between the two countries. However, for this to be achieved, India will have to overcome several challenges.
Read news in full 16/10/14 Purba Das/Business Insider
"Currently the ninth largest market, India will see a total of 367 million passengers by 2034, an extra 266 million annual passengers compared to today. It is an exciting prospect to think that in the next 20 years, more than twice as many passengers as today will have the chance to fly," said Tony Tyler, director general and CEO of International Air Transport Association (IATA).
He added, "Air connectivity on this scale will help transform economic opportunities for millions of people. At present, aviation helps sustain 58 million jobs and $2.4 trillion in economic activity. In 20 years' time we can expect the global aviation to be supporting around 105 million jobs and $6 trillion in GDP".
According to the findings of IATA, the Indian domestic aviation market is pegged to grow at 6.9% while adding 159 million extra passengers on its domestic routes.
At the 10th Indo-US Economic Summit organized by Indo America Chambers of Commerce, experts suggested that the aviation industry in India could also further cement ties between the two countries. However, for this to be achieved, India will have to overcome several challenges.
Read news in full 16/10/14 Purba Das/Business Insider
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