Some 50 million jobs and $3.6 trillion of the world’s gross domestic product will depend on aviation by 2026, according to a report from Oxford Economics which provides an in-depth look at the aviation industry’s contribution to global economic development and social prosperity, while considering what that really means for individual countries, regions, towns, families and species. That forecast was contained in the report “Aviation: The Real World Wide Web” posted June 15 on the transportgooru.com Web site.
According to the report, aviation’s GDP contribution is around 1.5 times the size of the pharmaceutical industry’s $270 billion or the textile industry’s $286 billion, and a third bigger than the automotive industry’s $322 billion. When combined with its supply chain and dependent industries, including its contribution to tourism, aviation supports over 33 million jobs and $1.5 trillion GDP. As a country, this would rank aviation in eighth position, between Italy and Spain. An estimated 35% of all trade in manufactured goods travels by air. That, alone, is worth some $3.5 trillion, the report said.
Oxford Economics said while reduced growth in aviation would have a considerable impact on global employment, economic output and social development, it would not imply lower emissions when the impacts of replacement activities and alternative transport are taken into account. “Aviation currently contributes 2% of worldwide, man-made carbon dioxide emissions and will be no more than 3% by 2050,” it said.
The full report includes a number of case studies and regional summaries from around the world about the impact of aviation. It acknowledges that aviation has an impact on the environment, but seeks to balance the debate by highlighting the benefits it brings to so many people worldwide. The solution, according to Oxford Economics, is policy that supports a sustainable balance between the positive contribution of aviation and the impact of future growth.
To read the full report: www.oxfordeconomics.com/free/pdfs/ox_econ_aviation_report/main.html
To read the 4-page summary: www.oxfordeconomics.com/OE_Cons_Aviation.asp