19 BILLION US DOLLARS IN UNTAPPED REVENUE COULD BE RELEASED IF ONLY AFRICAN AVIATION IS PROPERLY FACILITATED
(Posted 26th April 2019)
AviaDev, Africa’s premier event dedicated to developing connectivity to, from and within the African continent, in conjunction with partners, MIDAS Aviation and Futureneers Advisors have estimated the potential revenue from new African aviation routes could yield USD $29bn in direct revenue.
This revenue, which is more than the individual GDP’s of 70% of the countries in Africa, could be realised if the largest airports in each African country are connected with one another. Currently, only 33.7% of this huge market is served, meaning that there is over USD $19bn in untapped annual revenue.
Eminent speakers at the conference like IATA’s Envoy to Africa Raphael Kuuchi but also including Ato Girma Wake, who delivered his address via video link,
made it very clear that opening up Africa’s skies is the key to the industry’s success, besides lowering the cost of doing business with an eye on air navigation cost, landing and parking fees and general tax, excise and duty levels on key elements of the aviation sector.
Will African governments listen? Given the massive figure of 19 billion US Dollars in untapped revenue, they just might …