Incredible new £20 billion airports are built that transform major Asian cities and attract more than 100 million passengers each year. Southeast Asia is one of the fastest growing aviation markets in the world, and air traffic to this region is Boeing said it was expected to exceed the triple over the next 20 years.
According to the 2024 commercial market outlook, air traffic in Southeast Asia is expected to grow at an annual rate of 7.2%, surpassing the global average of 4.7%. However, many countries in the region lack sufficient airport infrastructure and operate beyond planning capabilities.
This is why the region has become the world's most ambitious investment magnet for new airports and airport expansions. The airport at the top of that list is long in Ho Chi Minh City, Vietnam.
Approximately £15 billion has been invested in airports to increase passenger capacity to 100 million. Phase 1 of development is expected to be completed in 2026.
Vietnam's tourism industry is booming, but the airports are unable to maintain their pace. For example, Noi Bai International Airport in Hanoi is designed for 10 million passengers a year, but currently serves 30 million people. Tan Son Nhat International Airport in Ho Chi Minh city has a capacity of 30 million people, and was good 10 years ago.
Ho Chi Minh has been working on this by developing a number of new national airports since the 2030s. The bold plan includes rapidly developing at the country's largest airport, increasing the number of commercial airports from 23 to 30.
In Hanoi, £154 million has been spent expanding Noi Bai Airport. The project will be completed by the end of 2025 and will provide a temporary reprieve before an additional £3 billion is spent to increase capacity to 60 million passengers by 2030.
This will start next year with a third terminal and a new runway added. According to Simple Flying, Hanoi may have a second airport.
At Tan Son Nhat in southern Vietnam, £350 million is being devoted to the construction of the third terminal. The country is also building a 37-mile airport outside of its long turn. Once finished, there will be four runways and terminals to accommodate more than 100 million passengers a year.
According to Simple Flying, it is the largest airport development project in the region. Manila, Philippines, is also expected to be building an all-new airport, which costs £10 billion. The first phase of the airport, known as Bulacan, will be completed by 2028 and will have the capacity of 100 million passengers per year.
The second airport in the Philippines' capital is also being redeveloped at a cost of £8.5 billion. The expansion at Sangley Point welcomes 75 million new passengers once construction of phase 1 of development is finished in 2028.
