Air Transport contributes 8.2% to Panama’s GDP, according to International Air Transport Association (IATA).
Approximately 8.2% of Panama’s gross domestic product, or more than $6.8 billion annually comes from the country’s aviation industry. Two weeks ago the International Air Transport Association (IATA) issued a report on the value of aviation, which includes the data.
These figures include direct economic benefits from aviation industry (USD 1 B., 1.2% of GDP) as well as the additional benefits generated by the wider supply chain, employee spending, and tourism-related activities. The total contribution to employment amounts to 193.800 jobs.
Since 2014, Panama’s international air connectivity index has increased by 38% within the Latin America region and by 51% with all other regions. Understanding the nature of that connectivity is also important. For Panama, 29% of passengers either finished their journey at the point of entry to the country or continued traveling using a different mode of transport. 71% of all passengers arriving in Panama from abroad continued their journey to a destination in another country.
View The Value of Air Transport to Panama in the IATA factsheet.