The number of air passengers may double to 8.2 billion a year in 2037, with Asia-Pacific region driving the growth trend, International Air Transport Association (IATA) forecast said on Wednesday.
The number of air passengers may double to 8.2 billion a year in 2037, with Asia-Pacific region driving the growth trend, International Air Transport Association (IATA) forecast said on Wednesday. The growth in aviation sector in the coming two decades could support 100 million jobs all across the world, sector federation IATA said in forecast. India will take third place after the US, surpassing the UK around 2024, it also said.
“The Asia-Pacific region will drive the biggest growth with more than half the total number of new passengers over the next 20 years coming from these markets. Growth in this market is being driven by a combination of continued robust economic growth, improvements in household incomes and favorable population and demographic profiles,” IATA forecast said.
However, protectionist measures could impede the aviation growth globally, the agency said in its passenger forecast. The group that represents 290 airlines also mentioned that the passenger traffic should expand by 3.5 percent each year from the present level of 4.1 billion passengers. “A significant negative impact on the growth and benefits of aviation if tough and restrictive protectionist measures are implemented,” IATA said.
China will displace the United States as the world’s largest aviation market (defined as traffic to, from and within the country) in the mid-2020s. Indonesia is forecast to be the best performer rising from the world’s tenth largest aviation market in 2017 to the fourth largest by 2030. Thailand is expected to enter the top 10 markets in 2030, replacing Italy which drops out of the ranking, it added.