(Posted 24th August 2024)
| The global airline industry has made a remarkable comeback, surpassing pre-pandemic levels in early 2024. But what does the future hold? We are pleased to announce the release of the latest 20-Year Passenger Forecast. IATA’s latest Air Passenger Forecast reveals fascinating trends: In the short term, global passenger numbers are expected to grow by 9.7% in 2024. However, this growth is uneven across regions, with Asia Pacific leading at 15.7% due to a lower base and rising living standards. Europe and North America are also expected to see robust growth, while Africa may experience a slight contraction due to economic slowdowns in Northern Africa. |
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| Looking further ahead, the forecast predicts the number of air passengers will double by 2043, with an average annual growth rate of 3.6%. Emerging markets like Asia Pacific and the Middle East are expected to drive this growth, while mature markets like Europe and North America will see more moderate increases. However, this forecast is not without risks, including geopolitical tensions, economic slowdowns, and rising energy prices. |
| Growth in Passenger Numbers By Region and Countries with the Largest Net Increase in Passengers (CAGR% 2023-2043) |
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| To learn more, you can access the Air Passenger Forecast Infographic prepared by IATA Sustainability & Economics. |
| Need a more detailed forecast for your organization? |
In the dynamic aviation landscape, accurate forecasting is paramount. The IATA 20-Year Passenger Forecast gives your business the insights needed to confidently navigate the future:
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