Latin American air traffic follows the money
Finance and transport hubs pick up air traffic even as some major cities lag
Source: Airports and media reports, Brookings Institution, Oxford Analytica
Outlook
Despite having a population of only around 4 million, Panama's main international airport has enjoyed steady passenger growth in recent years, buoyed by its position as both a finance and transport hub for the region. New investments in airport expansion should bolster this position.
Unsurprisingly, Brazil's key cities also dominate the top ten list, with Sao Paulo Guarulhos vying with Mexico City International Airport for the top spot. More problematic here are capacity constraints, which mooted transport infrastructure and privatisation plans have yet to address.
While tourism is certainly the main driver of heavy passenger traffic in Cancun, more generally the weight of the Pacific Alliance countries - Colombia, Chile, Mexico and Peru - suggests that the focus on global integration may indeed be boosting business.
Impacts
- Despite some recession-related decline, Brazil's main airports remain near saturation point.
- The economic crisis and exchange controls have seen many international carriers cut services to Caracas.
- Security concerns in Mexico have yet to cut into air travel.
- Regional passenger hubs and 'business-friendly' rhetoric may drive air traffic on the Pacific side as much as tourist interest.