KIGALI :Largely Untapped Africa Aviation Industry Presents Huge Investment Opportunities: Delegates
- Catégorie parente: ROOT
- Écrit par Rwanda podium
The aviation industry across Africa remains largely unexplored, presenting huge investment opportunities to global private businesses, said delegates attending an aviation meeting here on Tuesday. By Yan
Africa needs more investment in the airline industry and should develop better infrastructures that support aviation development, Musoni said
Nearly 1,000 aviation and hospitality sectors experts, investors and government officials from Africa and beyond are attending the three-day Aviation Africa 2017 (AviaDev 2017) event in the Rwandan capital, Kigali.
"The continent is characterized by vast distances and it has neither good road nor rail systems. Air transport presents strong business opportunities for freight, business, leisure and tourism between African economies," said Jon Howell, managing director of AviaDev, Africa's leading airline route development conference.
Home to 12 percent of the world's population, Africa accounts for less than 2 percent of the global air service market, according to the World Bank.
African continent remains the world's most attractive investment area in aviation industry, Howell said.
He said air travel is essential to the prosperity of Africa as it opens up opportunities and facilitates regional integration on the continent.
According to the International Air Transport Association (IATA), across Africa, air transport supports 6.8 million jobs and contributes 72.5 billion U.S. dollars to the African continent's gross domestic product (GDP).
IATA predicts that the top 10 fastest growing aviation markets in the next 20 years will all be in Africa.
James Musoni, Rwanda's minister of infrastructure, said the aviation industry is crucial for social and economic transformation of Africa, noting that RwandAir has expanded its wings across African economies and beyond.
Africa needs more investment in the airline industry and should develop better infrastructures that support aviation development, Musoni said.