Rédaction Africa Links 24 with News Desk
Published on 2024-04-15 07:07:07
Goldstar Air, also known as the wings of Ghana, has set out on a mission to accelerate the economic growth of the country by utilizing the aviation and tourism industries to boost Ghana’s Gross Domestic Product (GDP). The airline’s primary objective is to stimulate increased trade volume, investment, and business activities within the country.
Eric Bannerman, the Chief Executive Officer of Goldstar Air, has expressed the airline’s goal of becoming a leading contributor to the country’s GDP. Commercial aviation plays a crucial role in driving global economic prosperity by providing a rapid worldwide transportation network that is essential for international business. It not only generates economic growth but also creates jobs and facilitates international trade and tourism.
In the United States, commercial aviation contributes 5% to the GDP, amounting to $1.37 trillion in 2023. On a daily basis, US airlines operate thousands of flights carrying millions of passengers and tons of cargo to and from various countries around the world. The aviation industry is closely linked to the tourism sector, which heavily relies on air transport to facilitate the movement of tourists, generate economic growth, and provide opportunities for remote communities.
Goldstar Air aims to leverage the key sectors of Ghana’s economy to stimulate over half a percentage point of Ghana’s GDP. By offering 24/7 service operations, the airline plans to showcase its capabilities as an economic tool for the country. Services, industry, and agriculture collectively account for Ghana’s GDP, with services being the largest sector at 47%.
In 2022, travel and tourism in Africa contributed $168 billion to the continent’s GDP, marking a 40.9% increase from the previous year. Despite this growth, the value added to the GDP remained below the 2019 levels. By 2023, the contribution of travel and tourism to Africa’s GDP was projected to reach around $183 billion, with the continent experiencing the fastest tourism growth.
Ghana’s economy heavily relies on sectors such as cocoa production and mining. Cocoa plays a vital role in Ghana’s economy, accounting for 15% of the GDP and providing employment to thousands of farm families. Similarly, the mining sector, particularly gold production, contributes significantly to Ghana’s mineral revenue. Goldstar Air plans to support these sectors by promoting Ghana’s cocoa and selling locally-made jewelry on board their flights.
As China and Ivory Coast emerge as leading producers of gold and cocoa, Ghana must focus on enhancing its aviation and tourism industries to drive economic growth. These industries are interdependent and crucial for sustainable development, especially in remote regions dependent on tourism. Visa restrictions remain a barrier to international travel, but countries are gradually realizing the economic opportunities that tourism can bring.
Goldstar Air will initially operate flights from Kumasi International Airport to various European cities and from Accra Kotoka International Airport to destinations in the US, Middle East, Africa, and Asia. By expanding its route network and promoting Ghana’s key sectors, Goldstar Air aims to boost economic growth and contribute significantly to the country’s GDP.
