Gateway to global aviation opportunities

Bavina Sookdeo

Caribbean Airlines recently announced the expansion of its route network with a new non-stop service to San Juan, Puerto Rico.

Alongside increased frequencies and added routes from airlines such as Frontier, COPA and KLM and with more discussions under way to attract additional carriers, TT is ideally positioned to host the 2024 Centre for Aviation (CAPA) Airline Leaders’ Summit for Latin America and the Caribbean.

Scheduled to be held at the Hyatt Regency, Port of Spain, from August 21-23, the annual summit is organised by CAPA, a subsidiary of Informa PLC, which also hosts premier air service development conferences like Routes World and Routes Americas.

Hayden Newton, general manager of the Airports Authority of TT, told Business Day, "Hosting the CAPA Airline Leaders’ Summit in TT this year is a tremendous honour and an incredible opportunity for our nation. We are thrilled to welcome global industry leaders to our beautiful islands, showcasing not only our world-class facilities but also the warmth and hospitality of our people. This event marks a significant milestone for the Airports Authority of TT as we continue to strengthen our position in the international aviation sector."

In 2023, the summit was held in Queretaro, Mexico, and in 2022, it took place in Salvador, Brazil.

This year, the summit will bring over 200 airline executives to TT. Approximately 100 regional and international delegates have already registered, with 50 local delegates expected to register next week and a further 50 international delegates by August 21.

Major airlines such as Aeromexico, American Airlines, British Airways, CAL, Iberia, InterCaribbean Airlines, LATAM Colombia, Lufthansa Group Airlines, Qatar Airways, Turkish Airlines, United and Viva Aerobus have registered for the summit.

Newton explained that the summit brings together CEOs and top executives from airlines and aviation-related industries to assess the state of air travel in Latin America and the Caribbean.

It plays a critical role for nations seeking to attract new airlines and drive economic growth through air service development (ASD).

Host countries can enjoy several economic benefits, which include:

– The conference convenes approximately 200-400 airline decision-makers.

– 68 per cent of former hosts are now outperforming regional benchmarks.

– US$380,000 average advertising value for a host country.

Host countries also have the opportunity to raise awareness amongst the air transport community of a city or destination, showcase the city or region’s offerings to travellers, make connections with new potential business partners and airline providers and build relations to enhance connectivity in the future.

An April 2024 report produced by York Aviation said the economic benefits associated with a CAPA event for a host city are twofold.

The event itself brings delegates to the host city, resulting in more consumer expenditure, as these delegates spend money in the local economy – staying in hotels, using transport systems, eating out and potentially visiting tourist attractions. This expenditure supports GDP and employment in the tourism sector (the direct impact of the event), which in turn supports economic activity through its supply chains (indirect effects) and through the expenditure of wages and salaries by those employed in the direct and indirect activities (induced impacts).

These effects are the most immediate and tangible elements of a CAPA event’s economic impact.

According to the report, the average direct impact of a CAPA event is around US$140,000 in GDP, ranging from around $60,000 up to $210,000.

"In general, direct impacts reflect the size of individual events in terms of the number of delegates. Including indirect and induced impacts in the analysis, increases the overall impact of the events significantly, with total impacts ranging between US$120,000 and US$420,000 in GDP. The average CAPA event supports a total of US$260,000 in GDP from short-term event impacts."

Several local companies have come forward as partners in the event. Southern Sales and Services Ltd will be the official transport provider to delegates. Through partnerships with the Tobago Tourism Agency Ltd and Trinidad Tourism Ltd, delegates will meet local tour guides and have a chance to see various attractions across the country, including Maracas Bay, the Caroni Bird Sanctuary, and Buccoo Reef, the Nylon Pool, No Man’s Land and Shurland’s Hummingbird Nature Park in Tobago.

The summit will begin with a welcome reception on August 21, followed by a networking dinner, presentations, panel discussions and optional tours of the country’s attractions.

The two main days of the event (August 22 and 23) will consist mainly of panel discussions and presentations on topics relevant to the business of airlines and air travel.

Some of the topics for discussion include mergers, partnerships and consolidation, sustainability – accelerating the new energy transition – and the Caribbean market.