It is with great pleasure that my fellow economists atFDCand I wish to introduce our new magazine styledTravelnomiks.Download Copy Here
Travelnomiksis aimed at elevating the level of awareness and understanding of the Nigerian public about the developments in aviation, travel and tourism. It is our hope thatTravelnomikswill increase the available information for travelers to extract bargains from an industry where asymmetric and at times incomplete information has made them vulnerable to air-fare exploitation and manipulation.
Travelnomiksis a term used by us to place the process of traveling decisions of Nigerians in a simple and easy to understand economic framework. After all economics, and freakanomics are defined as the science of choice and scarcity.
It is ironic that in today’s market place news about the economy, stock market and oil prices dominate the front pages of most publications while travel news and tips are relegated to the back pages of newspapers and in-flight publications. Rarely do we see travel and aviation news in the Nigerian headlines except when it is bad news, for example: ash clouds, plane crashes and other disasters. We here atTravelnomikshope that through this publication we can begin to give travel the media attention that it deserves.
Passenger growth within Nigeria ’s aviation industry has averaged over 13% in the last five years. There are currently over 12 million passengers using the 34 domestic and international airports in Nigeria . The Nigerian economy boasts of an energetic, aggressive and upwardly mobile population. It also includes a very strong and dynamic diaspora group which benefit from a huge disposable income. The intended reader of this publication is a Nigeria resident who interacts via social networks, the internet or travel with the rest of the world; in other words, a Nigerian global citizen with behavior patterns and tastes that are international, but with a Nigerian slant.
Unlike textbooks and college courses that are abstract and complex,Travelnomiksattempts to make economics painless and relevant for the benefit of its readership. This publication has therefore been formatted into two distinct yet intersecting parts.
Thefirstpart of this publication is targeted at the average Nigerian traveler and addresses such issues, as: interesting travel destinations, broad considerations in planning your itinerary, how to pick an operator (airline) for your trip, how to pick cost and time efficient connecting flights and how to optimize your travel itinerary so as to best enjoy your vacation.
Thesecondpart of the publication is written with investors, operators and aviation industry professionals in mind. Although the issues discussed in the second section of this publication are highly technical, by their very nature, every day readers (with a will and interest in engaging with this second section) will find the material highly rewarding as the issues therein affect the day to day activities of travelers.
We intend that this publication be issued quarterly, in order to keep current with developments in the industry, and it is our hope that the scope of this publication will grow with its readership. However, in order to make sure its content remains relevant and to assureTravelnomiks’continued success we do require the help of our readers. It is my hope that the next issue will contain a ‘letter to the editor’ section where we can succinctly respond to any questions you may have in regard to the content of this issue. I also hope that you will write in with your suggestions for the next edition so that we can tailor this publication to you, its readers’, wishes.
Finally, I would like to thank you all personal ly, and extend the gratitude of the entire team here atTravelnomiks,for taking the time to read this publication. We appreciate your patronage greatly!