Changi Airport begins building of the multibillion-dollar T5 terminal

Changi Airport (Singapore) has just begun construction of Terminal T5, at a cost of tens of billions of dollars. This is regarded as a brave move to bolster one of Singapore’s economic cornerstones.

Scale of T5 terminal

Terminal 5 is nearly as huge as all of the other terminals combined. When finished, it will serve as the home base for Singapore Airlines and low-cost carrier Scoot, both of which now operate from various Changi Airport terminals.

Terminal 5, which is estimated to cost tens of billions of dollars, is viewed as a daring decision by Singapore, wagering on a surge in air travel that would persist past the pandemic. Last year, Asia-Pacific was home to seven of the world’s ten busiest international routes, which the International Air Transport Association forecasts would account for half of global passenger demand by 2040.

Title “World’s Best Airport”

When finished in the mid-2030s, the new terminal will expand Changi Airport’s capacity from 90 million to 140 million people annually.

In reality, aviation and tourism are among Singapore’s most successful economic sectors. Changi has received the Skytrax “World’s Best Airport” distinction 13 times, contributing approximately 5% of GDP and creating 200,000 jobs on the Lion Island.

In addition to the terminals, the airport features a luxury shopping center with hundreds of high-end boutiques and the world’s tallest indoor waterfall.

Potential obstacles for Singapore in implementing the development of Terminal 5

Last year, over 68 million passengers passed through Changi Airport, making it the world’s fourth largest aviation hub. From Singapore, passengers can fly straight to 170 places across the world.

However, there are still many potential obstacles for Singapore to implement the construction of Terminal 5. Denise Wong, an Asia infrastructure analyst at Bloomberg Intelligence, said that the recovery of capital could be delayed because of economic instability, geopolitical tensions and changing travel trends that could slow the growth of the aviation industry.