The flow of Goods and people is what determines how active an economy is. In this study, we try to understand if there is any correlation between the human and cargo traffic embarked into Singapore from different countries and their Economic factors. The different economic factors that I am trying to correlate with the Human and Cargo traffic are:
- The Consumer Price Index
- Merchandise Export Cost
- Merchandise Import Cost
- GDP
This could help us understand whether this data correlates to the Economic Growth of the country and if there is any evident pattern or correlation between them. We try to analyze and study if there is any correlation between the human and cargo traffic embarked into Singapore from different countries and their GDP. This could help us understand whether this data correlates to the Economic Growth of the country and see if there is any evident pattern or correlation between them.
Singapore has one of the best open data availability. For this analysis we utilize the datasets of Air cargo loaded total by region and selected country of destination [1], Air cargo discharged by region and country of origin [2], Air passenger arrivals total by region and selected country of embarkation [3] from Singapore Open Data website and the Economic factored data from World bank Data website [4].
For the analysis, I intend to create a statistical model based on the historical data of Human and Cargo traffic and economic attributes. This model would help us understand if there is any trend or correlation that we could derive from the Huma/Cargo data and the economic attributes of the country. Then we will carry out a Statistical analysis to see if the correlation holds good.
Studies have been carried out on similar lines. One such study carried out by MIT Studies the interaction between air transportation and economic activity [5]. One other study done by University of California, Irvine studies Airport Traffic and Metropolitan Economies based on Passenger And Cargo Traffic. [6] University of Connecticut also conducted a study to compare the Air Passenger and Cargo industries with respect to hub locations [7]
The final deliverable for this would be a study showing the correlation between the Air Passenger and Cargo data with Economy of Singapore and a statistical analysis report.
[1] Data.gov.sg, "Air Cargo Loaded - Total By Region and Selected Country of Destination," data.gov.sg, [Online]. Available: https://data.gov.sg/dataset/air-cargo-loaded-total-by-region-and-selected-country-of-destination. [2] Data.gov.sg, "Total Air Cargo Discharged By Region and Country Of Origin," data.gov.sg, [Online]. Available: https://data.gov.sg/dataset/air-cargo-discharged-by-region-and-country-of-origin. [3] Data.gov.sg, "Air Passenger Arrivals - Total by Region and Selected Country of Embarkation.," data.gov.sg, [Online]. Available: https://data.gov.sg/dataset/air-passenger-arrivals-total-by-region-and-selected-country-of-embarkation. [4] World Bank, "http://www.worldbank.org/," World Bank, [Online]. Available: http://databank.worldbank.org/data/reports.aspx?source=global-economic-monitor-(gem)# [5] Hansman, Mariya A. Ishutkina and R. John, "Analysis Of The Interaction Between Air Transportation And Economic Activity: A Worldwide Perspective," MIT International Center for Air Transportation ( ICAT), Cambridge, MA, March 2009 . [6] Lakew, Paulos Ashebir, "Airport Traffic and Metropolitan Economies: 2 Determinants of Passenger And Cargo Traffic," Airport Cooperative Research Program, California, Irvine, January 2015. [7] Noviello, Kristine, "Comparision of the the Air Passenger and Air Cargo industries with respect to hub locations," Connectiut , 1996