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Airports are essential to the economic development of cities, countries, and regions. They directly contribute to economies by providing services to airlines, moving passengers, and transporting cargo. The movement of goods and people also benefits governments, consumers, and industries.
However, the COVID-19 outbreak has hit airports hard—which could stall development in emerging markets.
As a result, air travel has fallen sharply, which has prompted airlines to cut capacity. Many have been closed by governments to contain the spread of the virus. The result is a sharp fall in revenues. Given the importance of airports to the economic development of cities, countries, and regions, the broader impact of COVID-19 on the global economy is enormous.