Aviation Booming in China Business

Aviation Booming in China Business

The aviation industry is booming in China and their Chinese business industry, as passengers from the world's second largest economy are expected to account for about one quarter of the world's 800 million new travelers by 2014. With dozens of new airports under construction in the country, the executive jet market is also expected prosper. According to Forbes' global rich list, the number of Chinese billionaires has doubled in the past year alone to 115.

This is the first time that any country outside of the US, with 413, has had more than 100. However, there are only about 200 private aircraft in the entire country at this time, far fewer than the 11,000 in the US. As the US stock market has improved, corporate executives are getting back on coporate planes, and Warren Buffett's NetJets has recently placed an order for up to 120 more jets from Bombardier.


Photo source Horasis


This entry was posted on Sunday, March 13th, 2011 at 3:15 am and is filed under Business News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply