Long-term economic projections for Latin America and the Caribbean remain positive, with IHS Global Insight predicting growth in the region to improve steadily over the near term and, by 2017, to outpace world GDP growth.
Economic growth in Central America remains strong, led by Panama with growth averaging 5.6 percent over the next five years. Meanwhile, five-year average growth rates for Brazil and Mexico—the region's two largest economies—are 3.8 percent and 2.3 percent, respectively. Aviation is a key component of this growth dynamic because it facilitates trade, travel, and tourism, while promoting globalization and technology development. We continue to project strong demand for air travel over the long term for Latin America and the Caribbean.