The global aviation industry is operating in a “new normal” economic landscape following the shift of growth source from western countries to emerging economies, continued financial uncertainty and high and volatile energy and commodity prices. Given this scenario, aviation needs to adopt and restructure their businesses to maximize opportunities in the industry. Opportunities are no longer focused in the US and Europe where the aviation market is mature. Prospects for new business travel flows are likely to increase in Asia and other emerging countries given the improving flows of international trade and western business expansion in the region.
The PwC study also offered its perspective on countries with growing market potential. It forecasted that resident trips of emerging economies are set to rise by 2020 supported by gross domestic product per capita growth and population increase. The Philippines together with Indonesia, Australia, Russia and India was especially noted as the country that will move up the most in rankings in terms of resident air trips.