Business confidence level three year high-IATA
Wole Shadare, Geneva
The ease of doing business introduced by the Federal Government is paying off as the International Air Transport Association (IATA), the clearing house for over 280 global airlines said business confidence levels in Nigeria near a three-year high, while confidence levels in South Africa are consistent with falling economic activity.
The group disclosed in faraway Geneva, Switzerland that as a result of the situation, African airlines’ traffic grew 7.5 per cent year-on-year in October, up from 3.6 per cent in September.
This was contained in IATA latest analysis of demand for passenger air transport. It is based on data provided by IATA member airlines during October 2017. Many of Nigerian airlines are IATA members.
It is also an announcement of global passenger traffic results for October showing that demand (measured in revenue passenger kilometers, or RPKs) rose 7.2 per cent compared to the same month last year.
Capacity grew 6.2 per cent and load factor climbed 0.8 percentage points to 80.8 per cent, which was a record for the month.
Continent-wide, capacity rose 3.4 per cent, and load factor jumped 2.7 percentage points to 70.9 per cent.
“Conditions in the region’s two largest economies—Nigeria and South Africa, still are diverging, with business confidence levels in Nigeria near a three-year high, while confidence levels in South Africa are consistent with falling economic activity.
Continent-wide, capacity rose 3.4 per cent, and load factor jumped 2.7 percentage points to 70.9%”, according to the Director-General of CEO of IATA, Alexandre de Juniac.
October’s performance, IATA said was a strong bounce-back after the hurricane-related disruptions in September, adding that domestic and international travel growth largely was in balance.
“As expected, the recent severe weather in the Americas region had only a temporary impact on the healthy travel demand we have seen this year, and we remain on course for another year of above-trend growth,” said de Juniac.
Aside Africa that recorded appreciable traffic growth, virtually all the continent’s airlines from Asia Pacific, Europe, Middle East, North America and Latin America.
The ease of doing business initiated by the Federal Government has brought remarkable success to the country and impacted the economy positively.
Just recently, the World Bank ranked Nigeria on 145th position out of 190 countries in the Ease of Doing Business index for 2018.
The report indicated that Nigeria had moved up by 24 points from 169th position on the 2017 ranking and also 170th position on the 2016 ranking to 145 in the World Bank’s 2018 report.
According to The World Bank, Nigeria alongside El Salvador, India, Malawi, Brunei, Darussalam, Kosovo, Uzbekistan, Thailand, Zambia and Djibouti are the top ten improved countries worldwide.