SINGAPORE (July 27): For decades, Singapore and Hong Kong have reigned supreme: as key transit points connecting travelers in Asia to and from the rest of the world. But now, a US$1 trillion global airport spree is threatening the status quo. 

About half that money is due to be spent on upgrading or building new airports in Asia, the Sydney-based CAPA Centre for Aviation estimates. In Beijing, a new US$12.9 billion airport due to open in 2019 will turn China’s capital into one of the world’s biggest aviation hubs. Bangkok’s Suvarnabhumi Airport is set for 117 billion baht ($4.8 billion) of upgrades through 2021 including a third runway. South Korea’s Incheon International Airport is spending 5 trillion won (US$4.5 billion) on a second terminal as it aims to become “the world’s leading mega-hub airport.”

As part of efforts to keep up, Singapore’s Changi Airport this month unveiled a $1.3 billion fourth terminal. Hong Kong, meanwhile, plans to fill in part of the South China Sea to make room for a third runway — at a cost of HKUS$141.5 billion (US$18 billion).

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