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Ing Nicaragua Economic Benefits of Air Transport in Nicaragua Economic Benefits of Air Transport in Nicaragua Acknowledgements Oxford Economics acknowledges the assistance from the International Air Transport Association (IATA) in the preparation of this report. Oxford Economics 2018 2 THE IMPORTANCE OF AIR TRANSPORT TO NICARAGUA The air transport sector makes a major contribution to the economy of Nicaragua 130,000 DIRECT SUPPLY EMPLOYEE TOURISM JOBS CHAIN SPENDING SUPPORTED BY THE AIR TRANSPORT SECTOR $867 MILLION GROSS VALUE ADDED CONTRIBUTION TO GDP 1,800 12,000 10,300 106,000 JOBS JOBS JOBS JOBS 6% GDP SUPPORTED BY AIR TRANSPORT & FOREIGN TOURISTS ARRIVING BY AIR US $114 US $60 US $52 US $642 MILLION GROSS VALUE ADDED It creates jobs... spent on consumer goods and a further $642 million gross services. value added contribution to Airlines, airport operators, the country’s GDP. airport on-site enterprises Foreign tourists arriving by air (restaurants and retail), to Nicaragua, who spend their This means that 6 percent of the aircraft manufacturers, and air money in the local economy, country’s GDP is in some way navigation service providers are estimated to support an dependent on the air transport employ 1,800 people in additional 106,000 jobs. sector and foreign tourists Nicaragua.1 In addition, by arriving by air. buying goods and services ...and generates wealth from local suppliers the sector supports another 12,000 jobs. The air transport industry On top of this, the sector is is estimated to support a estimated to support a further $226 million gross value 10,300 jobs by paying wages added contribution to GDP in to its employees, some or all Nicaragua annually. Spending of which are subsequently by foreign tourists supports 1 All figures relate to calendar year 2017 unless otherwise noted. The importance of air transport to Nicaragua Air transportation facilitates exports, foreign direct investment, and tourism Exports, FDI, and inbound tourist spending Air transport brings tourists in Nicaragua each year, services to other countries. and investment into Nicaragua, supporting restaurants, hotels, Over time, the country has and helps businesses trade transport providers, and accumulated $9.9 billion in their goods and services others who cater to tourists. foreign direct investment.2 around the world. Foreign In addition, Nicaragua exports tourists spend $841 million $5.7 billion worth of goods and The most popular direct flight links to Nicaragua: 7 Country Flights per year 1. United States 2,800 2. Costa Rica 1,700 1 3. El Salvador 1,300 4. Panama 1,100 5. Guatemala 720 6. Mexico 690 7. Canada 28 6 8. Cuba 28 8 5 3 2 4 US $9.9 US $841 US $5.7 BILLION MILLION BILLION INVESTMENT FOREIGN TOURIST EXPORTS EXPENDITURE MONEY FLOWING INTO NICARAGUA 2 FDI is stated in 2016 prices and exchange rates. The importance of air transport to Nicaragua The air transport sector connects people around the world 59,700 818,000 542,000 Arrivals by region, number Number of direct flight destinations from Nicaragua to the of passengers world’s 10 biggest aviation markets, measured by passengers Latin America and the United States Caribbean and Europe are the largest sources of China arrivals to Nicaragua after North America. Japan 542,000 passengers arrived United Kingdom to Nicaragua from Latin America and the Caribbean India (38.2 percent of the total) and 59,700 passengers Indonesia 7 DIRECT FLIGHT arrived from Europe (4.2 DESTINATIONS IN percent of the total). Spain THE 10 BIGGEST AVIATION Germany MARKETS Brazil Italy The importance of air transport to Nicaragua Ease of travel, cost competitiveness, and infrastructure are vitally important Number of passengers travelling annually through the Key infrastructure facts about country’s main airports Nicaragua’s air transport Around 16,700 aircraft land 1 1.5MILLION every year. Augusto C Sandino AUGUSTO C SANDINO INTL Intl airport carried the most passengers. The airport helps 3,300 about 1.5 million people take 2 COSTA ESMERALDA Managua flight annually. 1 2 NUMBER OF OPERATING 2 AIRLINES 16,700 AIRPORTS LANDINGS AND 16 TAKEOFFS Infrastructure quality Survey evidence of 23 priorities toto adadvancevance the score: 4/7 infrastructure and ease of travel aviationaviation agenda:agenda 1. Align regulatory framework with Executives surveyed by the 1. Pglobalromo bestte and practices. align World Economic Forum regulatory framework with suggest that Nicaragua’s air 2. Ensureglobal competitivebest practi costsces. and Visa openness score3: transport infrastructure quality efficient administration in airports 4/10 ranks 19th out of 24 countries 2. Pthroughromot eopen inte rcommunicationnational with included in the survey in Latin sthetanda industry.rds and best practices America and the Caribbean towards development of and 108th globally. 3. nEnsureew ai rtransparencyports. and Cost competitiveness participation of the industry in score4: 6/10 Nicaragua ranks 7th out infrastructure planning and of 24 in Latin America development across Central America. and the Caribbean for visa openness and 7th for cost competitiveness. 3 Entry visa requirements for a tourism visit from worldwide source markets (10 = no visa required for visitors from all source markets, 0 = traditional visa required for visitors from every source market). 4 Based on ticket taxes, airport charges, and VAT (10=low cost, 0=high cost). August 2018 This report is one of For more information, please Oxford Economics prepared several that examine the visit www.IATA.org or contact: this report with IATA’s support. air transport sector’s importance around the Ian Saxon All currency values are in world. Access them all from [email protected] US dollars at 2017 prices IATA’s website. Tel: +44 (0)203 910 8064 and exchange rates, unless otherwise stated. Sources: IATA, Oxford London All figures pertain to Economics, UNCTAD, Broadwall House, 21 Broadwall, calendar year 2017, unless International Monetary Fund, London, SE1 9PL, UK otherwise stated. and national statistics. www.oxfordeconomics.com .
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