Passenger traffic is set to reach and surpass 2019 levels in all regions by 2024, according to the latest forecasts by the International Air Transport Association (IATA). North America and Latin America lead the recovery and expected to reach 2019 levels already in 2023. The Asia Pacific region is projected to follow in 2024, recovering to 2019 levels one year earlier than previous estimates.
IATAs long term forecast for passenger traffic growth estimates an increase from 4 billion passengers per year in 2019 to 8 billion passengers per year in 2040, an average annual growth rate of 3.4%, with Asia Pacific (4.6%), Middle East (3.7%) and Africa (3.4%) set to grow fastest.
Read more:
- Global Outlook for Air Transportation, June 2023, International Air Transport Association (IATA)