In this webinar organized by IATA and Oxford Economics discuss the Air Passenger Forecast (APF) and the expected recovery in 2023, which includes a 20-year outlook as well as quarterly data points.
Latest data for 2022 show that the global economy is projected to be weak due to high inflation, weaker corporate earnings, and the impact of Russia's invasion of Ukraine. Real consumer spending across G7 countries is considerably weaker post-Ukraine invasion, resulting in a slowdown in consumer spending.
Despite economic challenges, there has been a rebound in travel demand, particularly in the Middle East due to the FIFA World Cup, with some regions reaching pre-pandemic levels of travel activity. Positive indicators in the US economy, such as low unemployment rates and strong household balance sheets, are highlighted.
High-income households are prioritizing travel over other expenditures, and business travel is showing signs of recovery. Asia Pacific traffic in the aviation industry has recovered to 56% of 2019 levels as of January 2023, with China leading the recovery in the region. However, challenges such as rising fuel prices, labor costs, and uncertainties related to COVID-19 variants and travel restrictions remain, making the outlook for the Asia Pacific aviation industry uncertain.
The recovery of the global economy is still influenced by the ongoing challenges posed by the COVID-19 pandemic and geopolitical events such as the war in Ukraine.
The IATA 20-Year Passenger Forecast is a data package used by aviation stakeholders to understand future air passenger traffic. It includes historical data, forecasts, and expert insights, serving as the industry benchmark for gaining insights into potential future scenarios and projected passenger traffic volumes within a specific market and time horizon.
We offer a range of data products that can help you gain a comprehensive understanding of the air passenger forecast. Access comprehensive and reliable aviation statistics with World Air Transport Statistics (WATS). This database is updated annually with data from over 250 global airlines, covering a wide range of metrics related to industry demand, supply, and performance. WATS provides detailed information on passenger and cargo traffic, industry trends and rankings, airline data, and aircraft statistics.
Monthly Traffic Statistics is a reliable source of historical passenger and cargo traffic data. This data is collected directly from airlines, making it a valuable resource for organizations seeking accurate industry information. The monthly reports provide a detailed breakdown of traffic data.
MarketIS is a trusted source of accurate and comprehensive data on the global air travel market. This data solution uses actual ticketing data from IATA’s Billing and Settlement Program combined with its own internal modeling systems allowing for 100% of global market estimates.