Regional Economic Impact of Aviation

Regional Economic Impact of Aviation

Of the six regions in the world displayed, it is Asia that has the highest potential for airline growth because of the emerging economies that are increasingly playing a role in strengthening the global economy overall. Countries in Asia, such as China, Malaysia, Singapore, Japan, and Thailand, produce goods for export that require airline transport, thereby expanding the potential for growing the sector (International Civil Aviation Organization, 2019). For instance, China is renowned in the world for making “Made in China” products that are cheaper than similar original items produced in other markets, such as the United States.

Therefore, many traders worldwide that have a market for products made in China frequently travel to the country using airlines to source the items from the manufacturing source before exporting the same to their mother nations. Moreover, China has been indicated to have cheap labor, which traders globally are taking advantage of by traveling using airlines to the country and employing Chinese workers in manufacturing industries set up in the region. Therefore, regular airline travel for business purposes in and out of China by traders as its economy expands proves that the country, in the Asia region, would be an excellent candidate for developing aviation services.

Asia also hosts Japan, Thailand, Singapore, and Malaysia, which are typical tourist destinations for their rich culture and business opportunities. Many traders from emerging economies, such as African nations, prefer to source clothes, spices, and other light products from Asian countries because they are known to be authentic and of high quality. Some people also visit Asia for tourism purposes when visiting nations, such as Dubai in the United Arab Emirates (Uniting Aviation, 2018). Therefore, Asia presents a more significant potential for aviation industry growth because of the reasons mentioned.

References

International Civil Aviation Organization. (2019). Aviation Benefits – IHLG Report. https://www.icao.int/sustainability/Pages/IHLG.aspx

Uniting Aviation. (2018, July 11). Aviation benefits: A better future. https://unitingaviation.com/news/economic-development/aviation-benefits-for-a-better-future/

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Read the two supporting documents focusing on airline globalization in 2018:

Aviation Benefits: Contributing To Global Economic Prosperity/Uniting Aviation (Links to an external site.)
Aviation Benefits – 2017/ICAO (middle of page) (Links to an external site.)
Using the section titled “Regional Economic Impact of Aviation,” prepare a one-page (not including cover and reference pages) APA-formatted summary report that answers the question: Of the six worldwide regions displayed, which one do you think has the most significant potential for airline growth, and why?