Financial Daily from THE HINDU group of publications
Saturday, Jun 10, 2006
Financial Daily from THE HINDU group of publications Saturday, Jun 10, 2006 |
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Airlines `Open sky policies result in economic benefits' Our Bureau
Thiruvananthapuram , June 9 The liberalisation of air service agreements, also called `open sky policies', generates multiple economic benefits including more travel and tourism, more jobs and more opportunities for consumers, according to a new study. At the same time, restrictive bilateral air services agreements between countries can stifle air travel, tourism and business, and can have an adverse impact on economic growth and job creation, says the study titled `The economic impact of air service liberalisation'. The study, which involved the Pacific Asia Travel Association and 11 industry groups, examined 2,000 bilateral air service agreements. It quantifies the economic impact of changes in aviation policy using an economic model developed by InterVISTAS-ga2 Consulting. According to the study, simulations show that liberalising 320 air routes that are currently not in the open skies mode will create 24.1 million full-time jobs and generate an additional $490 billion in GDP. Similarly, fully liberalising the US-UK market alone will create 117,000 new jobs and generate $7.8 billion in economic value, the study adds.
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