Chinese travel demand will create need for 5,580 new aircrafts, Boeing says

World -

Tourism will drive air travel in China to new heights during the next two decades, Boeing says.

Circa News

Boeing said in Sept. 2013 that rising air travel demand in China will require some 5,580 commercial aircraft during the next 20 years, a fleet that could be worth $780 billion.

Increased tourism, desire for point-to-point connections, and airport congestion are key factors driving the demand for more aircrafts in China.

In August, Chinese commercial carrier Xiamen Airlines signed a $1.3 billion deal with Boeing to buy six 787 aircrafts. The deal is part of a plan to offer trans-Pacific flights to the U.S. and Europe in 2014.

97 million Chinese tourists, roughly equivalent to the entire population of the Philippines, went abroad in 2013, according to China's National Tourism Administration on Jan. 9. The latest figure is up from 83 million in 2012, and just 29 million in 2004.

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