‘Irrepressible’ air travel defies global economic growth slump

For all the world’s economic malaise, there’s a bright spot above the clouds: Airline passenger traffic grew 6.4% last year, the most in five years. <br/>Total passengers rose across all major regions to 7.2b, almost the population of the planet, according to Airports Council International, the industry’s Montreal-based trade association. And as with the global economy, China is a dominant force for growth. Asia-Pacific airports handled the most, with trips up 8.6% to 2.46b, while the Middle East increased the fastest, climbing 9.6% to 334m. “Growth in passenger traffic approached the pre-recessionary growth levels that were seen in 2004 to 2007,” ACI said in its annual report. “International tourism in particular was irrepressible in 2015, even considering the geopolitical risks that persisted in certain parts of the world, such as Eastern Europe and the Middle East.” While the BRICS economies -- Brazil, Russia, India, China and South Africa -- have faced their own varying challenges, they still posted strong growth of 8.2% in passenger traffic last year and their 1.5b passengers accounted for 21.4% of global traffic, ACI said. <br/>
Bloomberg
http://www.bloomberg.com/news/articles/2016-09-14/-irrepressible-air-travel-defies-global-economic-growth-slump
9/15/16