Airports in Asia Pacific, Middle East to see USD 240 billion investment in 10 years

New Delhi, Apr 16 (PTI) Airports in the Asia Pacific and Middle East regions are expected to see a total investment of USD 240 billion in ten years that will create an additional capacity to handle 1.24 billion passengers, according to airports' grouping ACI.

The Airports Council International Asia-Pacific & Middle East, a trade association representing over 600 airports from 46 countries/ territories on Wednesday also said the projected investment for brownfield projects or modernisation of existing airports is USD 136 billion, creating an additional 680 million passenger capacity and 14 million tonne of cargo capacity.

The investment is pegged at USD 104 billion for development of new airports, adding 562 million passenger capacity and 57 million tonnes of cargo capacity.

The association carried out a comprehensive survey, comprising over 30 key airports from the region to assess airport development needs and the projections were announced at the ACI Asia Pacific & Middle East Regional Assembly in the national capital.

In a release, it said the combined investment will create additional capacity for 1.24 billion passengers -- the equivalent of more than 13 airports the size of Dubai International Airport, the world’s busiest airport for international passengers -- and 71 million tonne of cargo capacity, which equals nearly 14 times the cargo throughput of Hong Kong International Airport.

Hong Kong International Airport is the world's top ranked airport for cargo.

"By 2053, the Asia-Pacific and Middle East regions are expected to serve nearly 11 billion passengers , close to a three-fold increase from the 3.9 billion passengers in 2024," the release said.

ACI Asia-Pacific & Middle East President SGK Kishore said the USD 240 billion investment is not just about concrete and runways, it's about socio-economic development in the region.

"In today's increasingly complex economic landscape, we need the continuous support of governments to further liberalise air transportation and streamline visa policies across region. These are proven drivers of economic development. In contrast, protectionist measures ultimately hinder progress and limit opportunity," ACI Asia-Pacific & Middle East Director General Stefano Baronci said. PTI RAM ANU ANU