Real estate development was the fastest growing source of non-aeronautical revenue in 2009 and helped protect the bottom of many airports facing a difficult year, according to the 2010 ACI Economics Survey.

While non-aeronautical revenues overall declined by 1.5% worldwide relative to 2008 figures, revenues from the core commercial areas rose by 3% in 2009, with real estate topping the list increasing 10%, followed by car rental concessions up 9%, F&B increased 7% and retail was up 1%.

Revenue from car parking fell 3.5% and advertising decreased 11%.

ACI Director General Angela Gittens commented: "Non-aeronautical revenues are a vital component in the economics of airports. During the downturn the diversification of airport revenues cushioned the impact of lower passenger and freight volumes. Non-aeronautical revenues critically determine the financial viability of an airport as they tend to generate higher profit margins than aeronautical activities, which are typically cost recovery only, or operate at a deficit."

Capital expenditure at airports worldwide was almost 20% lower than predicted for 2009, with $34.6 billion spent on airport upgrades or expansions of existing airport infrastructure. These figures do not include new (greenfield) airports, nor do they include capital investment in the Middle East and China, where significant amounts of capital are invested, (to a large a degree in new airports).

The lower numbers are a result of the global financial crisis which led to comprehensive reassessment of projects and tighter lending practices by banks delaying or reducing capital projects.

For 2010, airports expect capital expenditure to rise by 11% to $38.5 billion.