Despite these challenges, aviation continues to play a fundamental role in the Bolivian economy. The sector contributed 5.7% to GDP in 2019, and while a slight decrease to 5.5% is expected in 2024, it remains key for economic development. Additionally, international tourism, closely linked to air transport, has grown by 31%, reaching 2.2 million visitors in 2023.
Source: ALTA Aviation Insights Bolivia (Spanish version)
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The load factor for the Bolivian market will close 2024 with an average of 85%. In the international market, it will be 79%, and in the domestic market, 88%.
Yanela Zárate Morón, CEO of the Bolivian Airline Association (ALA Bolivia), highlighted the resilience of airlines, which continue their operations despite economic difficulties such as dollar shortages and unilateral changes in operational conditions. «The continuity of service reflects the commitment of aviation professionals who ensure a safe, punctual, and efficient exit for tourism and foreign trade in a landlocked country like Bolivia,» Zárate stated.
According to ALA Bolivia, the sector generates approximately 300 direct jobs, 600 indirect jobs, and nearly 2,000 transversal positions linked to tourism.
Economic and regulatory challenges
Among the main obstacles facing the Bolivian air industry are the high cost of fuel, priced at $3.75 per gallon, and the lack of adequate bilateral agreements. Botelho urged authorities to take immediate action.
«The current situation requires urgent action to solve the issues hindering the industry’s potential. We urge the Bolivian government to open a communication channel with aviation stakeholders to implement policies that promote growth, sustainability, and legal certainty. Without a joint effort, Bolivia will miss the opportunity to position itself as a key hub in the region,» he emphasized.
Recommendations and perspectives
The ALTA Aviation Insight Bolivia report, prepared with data from the Amadeus Travel Intelligence platform, provides an in-depth analysis of air traffic, main routes, and airports in the country. It also offers recommendations to strengthen the sector, such as improving connectivity, reducing costs, and regulatory adjustments that encourage investment.
Although the outlook is complex, aviation remains an essential economic driver for Bolivia. ALTA and ALA Bolivia’s call to the government aims to foster a joint effort to overcome challenges and unlock the sector’s potential.
Download document: ALTA Aviation Insight Bolivia
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Publish date : 2024-12-02 00:28:00
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