Above average growth expected in Asia
GROWTH RATES in the global airfreight market will begin improving this year according to a survey undertaken by Lufthansa Cargo titled “plant Trends & Forecasts”.
Following the dips in growth in the past three years, the industry will be able to return to the growth rates of the late 90s, the company predicts. The air cargo industry is seen as an early indicator of international economic trends.
The projected 5.9% increase in tonnage in the international air cargo market in 2004 is based on the continuing strong expansion of the Asian market and the gradual economic recovery in North America.
Lufthansa Cargo anticipates above-average growth, particularly in intra-Asian and trans-Pacific traffic. The reasons are China’s accession to the WTO, Asia’s gigantic internal market, and entrepreneurial activity in this region combined with attractive conditions, and the trend towards greater outsourcing to Asia.
