AviaDev have estimated the potential revenue from new African aviation routes could yield US$29 billion in direct revenue.
This revenue, which is more than the individual GDP’s of 70 per cent of the countries in Africa, could be realised if the largest airports in each African country are connected with one another.
Currently, only 34 per cent of this huge market is served, meaning that there is over US$19 billion in untapped annual revenue.
AviaDev is an event dedicated to developing connectivity to, from and within the African continent.
The figures were released in conjunction with partners Midas Aviation and Futureneers Advisors.
AviaDev, now in its fourth year brings together airports, airlines, tourism bodies and suppliers and customises one-to-one meetings so that new partnerships and routes can be created.
AviaDev managing director, Jon Howell, unveiled the event’s mission: to connect the largest airports in each African country with one another.
He stated: “AviaDev aims to challenge the status quo through encouraging disruptive thinking.
“We believe our new mission crystallises the opportunity that African aviation presents, and we look forward to driving the industry forward and measuring the progress made.
“We are encouraged by the drive on the continent towards partnership and collaboration.”