Mexico’s Airline Industry Grows at its Best Rate for a DecadeBy Elliot Bullman
From January to November, Mexico’s air passenger transportation grew 10.9% and could close on 90 million passengers in 2017.
For the past five years Mexico’ airline industry has experienced a golden cycle and this year is shaping up as the best of the streak.
In the period from January to October this year, around 152,000 international flights arrived at the country's airports, representing an increase of 8.1%. As of November, passenger air traffic in the country had swelled by 10.9% to 81.3 million passengers.
In the third quarter of 2017 the Gross Domestic Product (GDP) of the airline sector accumulated an advance of 11.7%, its highest growth in the last decade, according to Inegi.
The huge growth in demand is a reflection of the success that has been enjoyed by Mexico’s tourism again this year.
The country’s tourism GDP during the second quarter of the year increased 5.6% compared to the same period of 2016.
The director of the Tourism Promotion Council of Mexico (CPTM), Hector Flores, told entrepreneurs and secretaries of tourism that increasing air connectivity, both at national and international level, has been fundamental in sustaining Mexico’s growth in tourism.
- Spain and Mexico’s Trade Relations Curdle over Manchego Dispute
- Cape Town Water crisis: 'Day Zero' Draws Near
- MORGAN STANLEY: Here are the 6 internet stocks to bet on in 2018
- Ford announces $11B investment, 40 electrified vehicles by 2022 at Detroit Motor Show
- Automobile Revenues will fall 40% due to Electric and Autonomous Vehicles
- Mexico debuts its best startups for 2018 at CES
- Inside the Secret Society Running the World of Cryptocurrency
- Opinion: Who Will Profit Off the Next Crash?
- This is how Jeff Bezos will support the 'dreamers'
- Oil Reaches $70 a Barrel for First Time in Three Years
- Peso predicted to make comeback in 2018: Bloomberg
- Chihuahua´s governor denounces Government reprisals for PRI corruption investigation