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  • IATA Economics Chart of The Week: Air Transport Makes A Major Contribution To The Republic of Korea

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    The air transport industry makes a major contribution to the economy of South Korea. It supports almost 840,000 jobs and contributes nearly $50 billion to GDP, around 3.5% of the country's total. By 20 years, aviation's contribution is forecasted to be almost 1 million jobs and $90 billion to GDP. South Korea has strong domestic and international air connectivity, including the world's busiest domestic route between Jeju and Seoul. Aviation enables South Korea to be a major player in global trade.

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    Chart of the Week 31 May 19

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    The air transport industry makes a major contribution to the economy of South Korea. It supports almost 840,000 jobs and contributes nearly $50 billion to GDP, around 3.5% of the country's total. By 20 years, aviation's contribution is forecasted to be almost 1 million jobs and $90 billion to GDP. South Korea has strong domestic and international air connectivity, including the world's busiest domestic route between Jeju and Seoul. Aviation enables South Korea to be a major player in global trade.

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    IATA Economics Chart of The Week: Air Transport Makes A Major Contribution To The Republic of Korea

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    The air transport industry makes a major contribution to the economy of South Korea. It supports almost 840,000 jobs and contributes nearly $50 billion to GDP, around 3.5% of the country's total. By 20 years, aviation's contribution is forecasted to be almost 1 million jobs and $90 billion to GDP. South Korea has strong domestic and international air connectivity, including the world's busiest domestic route between Jeju and Seoul. Aviation enables South Korea to be a major player in global trade.

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    IATA Economics Chart of the Week 31 May 2019

    Air transport makes a major contribution to the Republic of Korea

     Ahead of this week’s 75th IATA Annual General Meeting in Seoul, we consider the value that the air transport industry
    delivers to the economy of the Republic of Korea. There are various ways to measure this contribution – today’s chart
    focuses on the jobs and spending generated by airlines, their supply chain and the foreign tourists arriving by air.
     In total, air transport supports almost 840,000 jobs, contributes just under $50 billion of gross value added (the firm-
    level equivalent of GDP) and around 3.5% of the country’s total GDP; clearly none of these are insignificant
    contributions. On current forecasts, aviation’s contribution by the end of our 20-year forecast horizon could be almost
    1 million jobs and a contribution of around $90 billion to GDP.
     Air transport facilitates the flow of goods, investment, people and ideas and links the Republic of Korea to the world.
    76 different airlines operate to/from the country, serving 176 international destinations. Domestically, Jeju - Seoul-
    Gimpo, is the world’s busiest domestic route, carrying more than 14.5 million passengers in 2018. Similarly, Jeju –
    Busan ranks in the top 25, with 3.6 million passengers. Aviation also enables Korea to be a major player in world trade;
    Korean Air ranks #6 globally in terms of scheduled freight tonnes carried and the Seoul Incheon airport is one of the
    world’s largest air cargo hubs, ranking #4 globally.
     The full Value of Aviation report contains further details – including different measures of how the industry contributes
    to the economy – and is available in both English and Korean. For any of our readers interested in developments at this
    year’s AGM, you can keep up to date by following #IATAAGM on Twitter.
    Terms and Conditions for the use of this IATA Economics Report and its contents can be found here: www.iata.org/economics-terms
    By using this IATA Economics Report and its contents in any manner, you agree that the IATA Economics Report Terms and Conditions apply IATA Economics
    to you and agree to abide by them. If you do not accept these Terms and Conditions, do not use this report. economics@iata.org

    www.iata.org/economics See the mobile version: iOS and Android

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