A rising middle class and above global average economic growth will be the main factors behind Southeast Asia’s triple air traffic growth over the next twenty years, according to Boeing’s 2024 Commercial Market Outlook report on the region.

According to the report, passenger air traffic in Southeast Asia should grow 7.2% annually until 2043, well above the 4.7% average annual growth rate globally.

“With Southeast Asia’s economy forecast to have the second-highest growth rate among global regions, rising household incomes will bring new consumers into this aviation market, fueling growth for low cost and leisure business models,” David Schulte, Managing Director of Boeing Commercial Marketing for Northeast Asia, Southeast Asia and Oceania said in a statement.

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