An incredible new £20 billion airport is being built that will transform a major Asian city and attract more than 100 million passengers every year. Southeast Asia is one of the fastest-growing aviation markets in the world, and air traffic to the region is expected to more than triple over the next 20 years, according to Boeing.
According to its 2024 Commercial Market Outlook, air traffic in Southeast Asia is set to grow at an annual rate of 7.2 %—well above the global average of 4.7%. However, many countries in the region lack sufficient airport infrastructure and are operating beyond their planned capacity.
This is why the region is fast becoming a magnet for the world’s most ambitious investments in new airports and airport expansions. The airport at the top of that list is Long Thanh in Ho Chi Minh City, Vietnam.
Some £15bn is being invested in the airport to increase its passenger capacity to 100 million. Phase one of the development is expected to be completed in 2026.
Vietnam’s tourism industry is booming, but its airports are failing to keep pace. For example, Noi Bai International Airport in Hanoi was designed for 10 million passengers annually but currently serves 30 million. Tan Son Nhat International Airport in Ho Chi Minh City has a capacity of 30 million, which was surpassed a decade ago.
Ho Chi Minh is addressing this by developing a raft of new national airports through the 2030s and beyond. The bold plan includes rapidly developing capacity at the country’s largest airports and boosting the number of commercial airports from 23 to 30.
In Hanoi, £154m has been spent to expand Noi Bai airport. The project is expected to be completed by the end of 2025 and provide a temporary reprieve before another £3bn is spent to increase capacity to 60 million passengers by 2030.
This will start next year with the addition of a third terminal and a new runway. There may even be a second airport in Hanoi so the travel hotspot can reach its capacity goal of 100million passengers by 2050, according to Simple Flying.
At Tan Son Nhat in southern Vietnam, £350m is being poured into building a third terminal, which will have a capacity of 20 million annual passengers when it opens next year. The country is also building an airport 37miles outside Long Thahn, which, when finished, will have four runways and terminals to cater for over 100million passengers annually.
According to Simple Flying, it is the largest airport development project in the region. Manilla in the Philippines is also expected have an entirely new airport built costing £10bn. Called Bulacan, the airport’s first phase will be completed by 2028 and have a capacity of 100million passengers per year.
A second airport in the capital of the Philippines is also being redeveloped at a cost of £8.5bn. The expansion at Sangley Point will welcome 75million new passengers when construction of phase 1 of the development end in 2028.