Turkey, Indonesia, Mexico and the Philippines Emerge as Global Capacity Growth Drivers, says OAG
TIMPs Overtake BRICs as Fastest Growing Aviation Markets
Download the OAG June FACTS infographic here
Brazil, Russia, India and China (BRIC) are no longer the fastest growing group of countries in terms of seat capacity, having been overtaken by Turkey, Indonesia, Mexico and the Philippines (TIMP), according to OAG, the market leader in aviation intelligence.
The OAG FACTS (Frequency and Capacity Trend Statistics) report for June shows that in the last five years, the TIMP countries have seen a combined average annual growth in domestic capacity of 16%, compared to 10% for the BRIC nations.
The TIMPs have been grouped together due to their high levels of economic growth and favourable demographics. In fact, the International Monetary Fund forecasts increases in gross domestic product this year of 3.5% for Turkey and Mexico, 4.8% for the Philippines and 6.3% for Indonesia.
Read the full press release here
www.oag.com