Air Transport Supports Job Creation in Peru, $4.4B in GDP

The International Air Transport Association (IATA) announced new data showing that aviation and aviation-induced tourism support 280,000 jobs and contribute $4.4 billion to Peru’s economy, equivalent to 2.1% of the country’s GDP.

The findings are among the highlights of «The Importance of Air Transport in Peru'» study conducted by Oxford Economics on behalf of IATA.

«Aviation’s contribution to Peru’s economy and society are significant. Air transport enables cross-border commerce, foreign investment and tourism. And all of that supports 280,000 Peruvian jobs. However, Peru could be reaping greater benefits from aviation if the right infrastructure was in place at the key Lima airport and taxes and charges were competitive with other countries in the region,» said Peter Cerda, IATA’s Regional Vice President for the Americas, who is in Peru for the release of the study.

Capacity Constraints in Lima and High Taxes and Charges

According to the study, Peru’s infrastructure quality is a significant blocker for the development of aviation in the country. The most acute example is Jorge Chávez International Airport in Lima, the country’s key hub airport, which was built to accommodate 10 million passengers per year but currently handles 19 million. As the country’s main international gateway, significant capacity expansion is needed for the capital to become a regional air hub and compete with hub airports in Bogota, Panama City and Santiago.

Peru ranks 136th for ticket taxes and tourism charges according to the World Economic Forum, behind other Latin American countries such as Chile, Brazil, Panama, Mexico, Ecuador, Argentina, Colombia and Bolivia. Peru’s high cost structure for air travel weighs on demand and undermines the ability of the country to compete for air passengers, both those travelling to and from Peru but also those who would connect in the country en route to other destinations.

«Peru has all of the elements to become a regional aviation powerhouse: a favorable location for cross-border air connectivity, world-class cultural and culinary assets and a growing economy. Yet aviation remains underdeveloped and the country’s capital, Lima, is losing out on the opportunity of becoming a regional air hub. Now is the time for Peru to be smart about aviation policy and ensure the right air transport infrastructure and cost structure is in place to harness the many economic benefits of robust air connectivity,» said Cerda…

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