Published on : Monday, July 31, 2017
Travelling in different parts of Asia is now easier, as most of destinations are connected by flights and this resulted in the development of many new airports with world class infrastructure providing luxurious and comfortable services to the passengers.
The investment in global airports is now on the rise to upgrade the travel in different destinations in Asia like Beijing, Qatar, Bangkok, Pattaya, Phuket, Cambodia and Vietnam, but it threatens the status of Singapore and Hong Kong’s status in the matter of airport development.
For more than 10 years, the international airports in Singapore and Hong Kong have reigned in supreme in Asia as key transit points connecting travellers from all across the world. But now, a US$1 trillion global airport binge is bullying the status quo of the airports of these two cities.
It is estimated that a trillion of money has been spent on the upgradation of new airports in Asia. Beijing, China will open new airports in 2019 with an investment of US$12.9 billion. This will make Beijing, a biggest aviation hub in the world.
The Suvarnabhumi Airport of Bangkok is set for US$3.5 billion of upgrades through 2021 including a third runway. South Korea’s Incheon International Airport is spending US$4.5 billion on a second terminal. Incheon is pointing itself to become mega-hub airport in the world.
Changi Airport in Singapore also unveiled a US$950 million fourth terminal this year. Hong Kong plans to fill in part of the South China Sea to make room for a third runway which will be a cost of HK$141.5 billion.
According to CAPA, about US$255 billion is now allocated to build new airports to have a good connectivity with the different destinations in Asia. About US$845 billion will be spent on upgrades for international status and best connectivity by building the extra runways and the terminals. The construction work is stretched out to 2069, CAPA said. The new airports in Asia will take more than US$125 billion, which is compared with just US$3.6 billion on brand new sites in the U.S. and Canada.
The new developments in the Asian airports are making an identity crisis for the internationally acclaimed Hong Kong and Singapore. Cathay Pacific Airways and Singapore Airlines have made their names in the jet era taking the visitors in and out of the cities and onward.
Now, Hong Kong to retain its name as No1, the airport authorities proposed a new third runway which is described as “urgent”. It points to have a growing competition from Singapore, Seoul and Shenzhen, as well as Guangzhou and Shanghai, which both plan to operate five runways.