Global aviation profit is also expected to increase to US $ 18 billion in 2018 and jet fuel costs have remained stable but are expected to stay US $124 a barrel. According to the report, global spending on aviation will reach US $716 billion by the year 2014, which is equal to 1 per cent of global GDP. In addition, business will also benefit from the forecast 3.3 billion travellers expected to travel in 2014 and a fall in freight costs by 4 per cent and people could potentially benefit from the forecast 58 million jobs to be created worldwide. The IATA predicts that airlines will make a net profit of US $18 billion, an increase of 2.4 per cent while the industry average return on capital for investors is expected to be 5.4 per cent. Airlines in the Asia Pacific are expected to earn an average of US $3.2 billion in 2014 Profit per passenger is below the industry average at $2.98, as is the net margin of 1.6%. “Governments should understand that the real value of aviation is the global connectivity it provides and the growth and development it stimulates, not the tax receipts that can be extracted from it,” Mr Tyler said. Source = ETB News: Tom Neale IATA director-general and chief executive officer, Tony Tyler said that government needed to recognise that aviation helps keep the world connected. The latest International Air Transport Association (IATA) Economic Performance of the Airline Industry report shows that aviation is creating value for passengers, aviation investors and governments through profit from increased efficiency.