Boston, MA -- (ReleaseWire) -- 07/31/2014 -- The biggest story in Ecuador in 2013 with regards to transportation was the opening of the new Mariscal Sucre International Airport approximately 18 kilometres east of Quito to replace the capital's old airport, also named after Mariscal Sucre. The new airport has the increased infrastructure needed to handle larger, long-distance aircraft, unlike the old airport which was limited by its location in a residential neighbourhood. In the initial months after the airport opened in February 2013, the municipal government offered subsidies covering thirty percent of airport usage fees for routes connecting Quito to new destinations and twenty percent for increased flight frequencies. The airport itself added to these subsidies, offering subsidies of forty percent on fuel costs for new flights between Quito and certain destinations including Brazil and Mexico. These subsidies helped offset an increase in airport usage fees estimated to be between 40 and 100% depending on the airline and flight between the old airport and the new one.
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Travel by rail is expected to show the strongest growth of any transportation category, with sales increasing at a CAGR of 14% in constant value. Despite this sharp growth, rail travel will remain the smallest category in terms of total sales. Air travel will also exhibit strong growth, with a forecast CAGR of 8% and sales rising to US$554 million by 2018 in constant value. The increased capacity and subsidies at the new Quito airport will result in increased flights and passengers to Quito. New routes, such as between Guayaquil and New York and Quito and Mexico City, will contribute to this growth. Additionally, Ecuador is general expected to draw more tourists over the forecast period, and by air is the most common way for tourists to arrive for many key source markets including the US, Western European and Australasian countries. Charter flights will show the weakest growth, with total value sales showing a forecast value CAGR at constant 2013 prices of 5%. The increasing availability of scheduled flights will decrease demand for charter flights.
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The Transportation in Ecuador market research report includes:
- Analysis of key supply-side and demand trends
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Our market research reports answer questions such as:
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- Is there a move from schedule to low cost carriers?
- Is there a shift away from air to rail?
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