IATA calls for partnership to build global infrastructure

Toronto: The International Air Transport Association (IATA) called for a partnership approach guided by clearly defined success factors to build the global infrastructure needed for aviation to continue supporting economic and social development.

"Aviation is a natural driver of growth - linking markets and connecting business. The demand for connectivity is rising. To meet that demand and enable aviation to deliver economic and social benefits, investment is needed to alleviate bottlenecks in the air and on the ground. In today's economic climate it is a potent tool to stimulate the much-needed growth," said IATA's Director General and CEO, Tony Tyler at the Toronto Global Forum.

IATA recently released its first 20-year passenger demand forecast.

By 2034 total passenger numbers are projected to reach 7.3 billion, more than double the 3.3 billion passengers expected to take to the air this year. Recently McKinsey estimated the investment in airports necessary to support GDP growth will need to be some $2 trillion by 2030.

Aviation already has a significant economic footprint - Airline revenue of some $750 billion account for about 1% of global GDP. When combined with aviation-related tourism, aviation accounts for 58 million jobs globally and some $2.4 trillion of economic activity (3.4% of global GDP).

"And that is only the beginning. Connectivity is the vital ingredient for modern industry - to move high value products quickly, to develop global markets or to support inward investment. The economic footprint of aviation crosses almost all sectors of the economy," said Tyler.

"The investments needed are significant, as will be their multiplier impact across the economy.

They are essential for a prosperous future with a more productive economy. It's important that we get it right. Cash-strapped governments alone don't have the resources and are increasingly turning to the private sector.