IATA: Uzbekistan to become fastest growing market for international passenger traffic
12/12/2013 15:58
IATA: Uzbekistan to become fastest growing market for international passenger traffic
12/12/2013 15:58
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will become the fastest growing market for international aviation passenger traffic by 2017, a new report of International Air Transport Association (IATA) said.
On 11 December 2013, the IATA published a new report on developing global aviation market for 2013-2017.
According to the report, Uzbekistan will become the fastest growing market for international passenger traffic. The growth rate will be 10.3% compound annual growth rate (CAGR).
Uzbekistan has displaced Kazakhstan (9.0% CAGR) as the fastest growing market for international passenger traffic.
The remaining eight are Russia (7.7% CAGR), Turkey (7.6% CAGR), Oman (7.5% CAGR), China (7.1% CAGR), Vietnam (6.9%CAGR), Saudi Arabia (6.9%), Azerbaijan (6.8% CAGR), and Pakistan (6.7% CAGR). No Latin American or African countries are among the fastest growing markets.
The IATA said that the airlines expect to see a 31% increase in passenger numbers between 2012 and 2017. By 2017 total passenger numbers are expected to rise to 3.91 billion—an increase of 930 million passengers over the 2.98 billion carried in 2012.
With 677.8 million domestic passengers in 2017, the United States will continue to be the largest single market for domestic passengers, although it will add only 70 million passengers over the forecast period (2.2% CAGR). This reflects the market’s maturity.
China is firmly established in second place (487.9 million passengers in 2017, 10.2% CAGR.). The US also will reclaim the top spot from Germany for international passengers by the end of the forecast period.
Germany will add 27.2 million passengers to the 149.4 million in 2012 (3.4% CAGR.), while the US will add 28.2 million international passengers, rising from 149.3 million in 2012 to 177.5 million (3.5% CAGR) in 2017.
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