A decade ago, most governments viewed aviation as a luxury through which to tax the wealthy. Today, decision makers and the populace at large accept that aviation is an engine of economic growth and prosperity throughout the continent as it supports many sectors, including tourism, agriculture, education, healthcare and so on. Aviation in Africa has created 7m jobs and $80bn in economic activity. The demand for air travel is expected to double in the next two decades and the potential of the aviation sector in Africa is immense. The International Air Transport Association (IATA) projects that the African continent will become one of the fastest growing aviation regions within the next 20 years, with an average annual expansion rate of almost 5%. Broadly speaking, aviation in Africa is doing quite well. According to the IATA, cross-border deregulation between just 12 African countries would create 5m new passengers, an annual GDP in excess of $1.3bn and 155,000 jobs.
SOURCE: AFRICA BUSINESS MAGAZINE
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