IATA forecasts Africa’s economy to grow by 4.7% in five years

Over the next five years, the African economy is forecast to grow at a strong 4.7 per cent per year, well above the global average rate, according to the International Air Transport Association (IATA).

It added that for the continent to realise its full economic potential, aviation – particularly commercial air transport – must be prioritised.

Aviation in Africa carries over 70 million passengers a year, supports more than 6.9 million jobs on the continent and generates over $80 billion in Gross Domestic Product (GDP). Over the next five years the African economy is forecast to grow at a strong 4.7 per cent per year, well above the global average rate. 

This is coming as the clearing house for global airlines announced the theme for the 2016 Aviation Day Africa scheduled to take place in Abuja from May 23 to May 24, 2016, with theme, “Driving African Economies through the Power of Aviation.”

The conference will bring together regional stakeholders to address current issues affecting aviation in Africa including the proliferation of taxes and charges, public-private partnerships, aviation, safety, security, next generation airports and market connectivity.

Vice President, IATA, Raphael Kuuchi, said, “Governments and organisations need to focus not only on national issues but also on the strategic development of pan-African aviation. Policies that promote investment in air transport infrastructure, improve safety and enhance air connectivity must be implemented. Aviation has the potential to make a much more significant contribution to economic growth and development within the continent if its power is unleashed.”

“The conference is a great opportunity for Africa’s key stakeholders to debate the industry’s most pressing issues and align actions to address the challenges. ]

“Through harnessing the power of aviation we will be helping to build a brighter future—not only for individual airlines and the air transport industry, but for all Africans, who will benefit with greater prosperity through jobs and opportunities,” said IATA’s Regional Vice President for Africa and Middle East, Hussein Dabbas.

The Africa Day Conference speaker line-up reflects a broad spectrum of aviation stakeholders from governments, policy makes, regulators, airlines and manufactures.