Commercial offerings must evolve

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At The Trinity Forum on October 30 in Doha, Qatar, Airports Council International (ACI) World emphasized that airports’ commercial offering must develop and evolve in step with customer expectations.

“According to the just-released ACI Annual World Airport Traffic Forecasts (2019–2040), global passenger traffic demand will double by 2037 based on a projected growth rate of 3.8% a year,” Angela Gittens told delegates.

“The exponential growth of air service demand promises more jobs, higher GDPs, and a wealth of social benefit, not to mention a more connected world. This will only be possible, however, if we make the necessary preparations in the short term – 2040 is not far from now,” she added.

While the industry’s financial performance grew 6.2% from the previous year, with airports worldwide earning US$172bn in 2017, Gittens explained that, on average, aeronautical revenues do not fully cover capital and operating costs, leaving airports financially reliant on non-aeronautical revenues.

“Airports and airport retailers worldwide must continue to forge innovative business partnerships and develop new revenue streams and commercial models that are in line with what customers are demanding,” Gittens stressed.

Photo by Xianjuan Hu on Unsplash.

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Tara has worked for UKi Media & Events since 2013, initially as a freelancer. She has been a journalist for over a decade and has worked for a range of publications, including Personnel Today, Management Today and The Grocer.

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