The Middle East-Asia air cargo route grew by 15.1 per cent on year-on-year, stated IATA. The growth in demand shows a rise in the trade exchanges and expansion of logistics between Middle East and Asia. Due to a consistent growth in demand in the sector, IATA has forecast that the second half of 2024 is likely to produce more impressive numbers. Asia is strongest among all regions in air cargo market globally, as it saw a demand growth of 17% year on year. Middle East is gradually coming close to the market-leading regions such as Asia-Pacific and Europe with a demand growth of 13.8 per cent. Both Middle East-Europe and Middle East-Asia routes have shown record-breaking growth and contributed a chunk in the global demand for air cargo market. As Saudi Vision 2030 indicates that Kingdom of Saudi Arabia wants to compete globally in air cargo and logistics sector, it seems inevitable Asia and Middle East would continue to strengthen their air cargo trade relations in the future as well. “Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs. Maritime shipping constraints and booking e-commerce are among the strongest growth drivers. Air cargo looks to be on solid ground to continue its strong performance into the second half of 2024, Willie Walsh, Director General, IATA, said.
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