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AVIATION IS AN INTEGRAL PART OF VIETNAM’S

TRANSPORTATION INDUSTRY AND AMONG THE
FASTEST-GROWING SECTORS IN THE WORLD

JAY MENON
As a developing country, advances Road to Recovery Strong Demand
in aviation have been playing a After the unprecedented COVID- Asia-Pacific is the largest market
critical role in promoting Vietnam’s 19 shock, the aviation industry in for passenger flows to Vietnam,
integration into the global economy, Vietnam is in the stage of revival, followed by Europe and the North
supporting its economic growth. Viettonkin Consulting said. In par- America. 41.3 million passengers
The growth rate of Vietnam’s avia- ticular, the industry grew by 441 arrived in Vietnam from Asia-
tion industry (AAGR) is the highest per cent in the first quarter of 2022, Pacific (95 per cent of total), 1.3
in the Asia – Pacific region with an compared to the same period of million passengers arrived from
average increase of 14 per cent 2021, while the number of domestic Europe (2.9 per cent of the total)
from 2018 to 2023, compared to passengers decreased significantly, and 766 thousand passengers
5.5 per cent of the whole region. according to Civil Aviation Authority arrived from North America (1.8 per
of Vietnam – CAAV. As of March cent). According to international air
This growth has come from the 2022, the international aviation transport association (IATA), Air
rising tourism sector, the introduc- market has 23 foreign and domestic transport in Vietnam is forecast to
tion of various low-cost airlines, airlines (including Vietnam Airlines, grow by a whopping 178 per cent
and the country’s robust economic Vietjet Air, and Bamboo Airways) in the next 20 years under the “cur-
development. While the Vietnamese operating to and from 20 countries rent trends” scenario. This would
aviation marke`t, like the global and territories. Yet, in comparison result in an additional 82.2 million
market, has been struggling due to to the pre-pandemic period, there passenger departures by 2038. If
the COVID-19 pandemic, a strong are currently eight countries that met, this increased demand would
recovery has been observed in have not reopened regular flights to support approximately US$35 bil-
the first half of 2022, especially in and from Vietnam, including Brunei, lion of Gross Domestic Product GDP
domestic flights. India, Indonesia, Myanmar, Macau,
Finland, Italy, and Switzerland. and around 2.4 million jobs.

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Editorial Director Art Director
Vittorio Rossi Prudente Sudheesh Kularmunda
PUBLISHED BY vittorio.prudente@gbp.com.sg Arun Sivasankaran sudheesh.kularmunda@gbp.com.sg
arun.sivasankaran@gbp.com.sg
Editorial Team: Sales Director
Jay Menon Atul Chandra Akshay Satyamurthy
jay.menon@gbp.com.sg atul.chandra@gbp.com.sg akshay.satyamurthy@gbp.com.sg

VIETNAM AVIATION EXPO 2022 2022 SEPTEMBER | 3