Turkey, Indonesia, Mexico and Philippines emerge on top
The BRIC countries of Brazil, Russia, India and China have been replaced as the fastest growing group of nations in terms of seat capacity. They have been overtaken by Turkey, Indonesia, Mexico and the Philippines, or “TIMP” countries, according to the US-based forecasting and analysis firm OAG Aviation.
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 are grouped together due to their high levels of economic growth and favourable demographics, registering between 3.5% and 6.3% rises in gross domestic product.
In the last decade, China and India have averaged 12% annual growth in their domestic airline markets, while Brazil and Russia have experienced average annual growth rates of 9% and 8% respectively. However, these growth rates are usurped by both Turkey and Indonesia, which recorded average annual increases in domestic capacity of 21% and 14%, respectively, during the same period.
International seat capacity growth has also been stronger for the TIMP countries in the last five years, with an average growth of 10% annually, compared to 8% for the BRICs.
[pictured: Soekarno-Hatta International Airport Terminal 3 seen from taxiway, Jakarta, Indonesia; photo by Gunkarta]