The Hindu Business Line : `Global air passenger traffic set to grow at 5.83 pc'

Based on these parameters and other factors, it is expected that the growth in air passenger traffic will be highest inWest Asia, at an average of 10.7 per cent per annum.

Kolkata , Dec. 12

Global air passenger traffic, in terms of passenger-km performed, is expected to grow at an average of 5.83 per cent between 2006 and 2008, according to trends and forecasts made by the International Civil Aviation Organisation (ICAO).

Growth

According to the ICAO Journal, based on economic assumptions and other considerations, global air passenger traffic, in terms of passenger-km performed is expected to grow at 6.1 per cent in 2006 and at 5.8 per cent and 5.6 per cent in 2007 and 2008, respectively.

Traffic growth, however, will vary in different geographies owing to the impact of specific local and regional factors.

Projections

The projections that have been made are based on global and regional economic growth forecasts made by the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation & Development and other organisations in both the government and private sectors. According to them, the world economy is expected to grow by 4.9 per cent in 2006, 4.7 per cent in 2007 and 4.6 per cent in 2008.

ICAO regions

Among the ICAO regions, the growth in the Asia-Pacific economy is expected to be six per cent or higher year-on-year between now and 2008.

The West Asia is expected to experience a higher-than-world-average growth between 2006 and 2008 even as the African economy is expected to grow by 5.7 per cent in 2006, 5.5 per cent in 2007 and 5.4 per cent in 2008. The economy of Latin America and the Caribbean is expected to grow by 4.3 per cent, 4.1 per cent and four per cent in 2006, 2007 and 2008, respectively.

Between 2006 and 2008, the North American economy is expected to grow in the 3.3-3.4 per cent range even as the growth rates pegged for Europe are less that three per cent per annum.

Forecast

Based on these parameters and other factors, it is expected that the growth in air passenger traffic will be highest inWest Asia, at an average of 10.7 per cent per annum.

Airlines in the Asia-Pacific are forecast to experience strong traffic growth rates above the world average throughout the forecast period.

So would traffic of airlines of Africa and Europe.

However, traffic of airlines of North America, Latin America and the Caribbean are expected to grow below the world annual growth rates during the period 2006-2008, according to ICAO Journal.