Global air passengers near 2019 levels as consumer confidence increases
Will PayneGlobal air passenger volumes will edge closer to 2019 levels this year, driven by the easing of inflation and rising consumer confidence combined with declining jet fuel prices.
According to Airports Council International (ACI), the findings suggest sustained strong air travel demand will continue to improve into the summer season.
Airports are forecast to welcome 2.7 billion passengers in Q2 2023 and 2.9 billion in Q3 2023, with global passenger volume projected to reach 8.4 billion in 2023, representing 92% of 2019 levels.
However, before the Covid-19 pandemic, the global passenger volume forecast was 10.2 billion passengers in 2022 – yet the actual 2022 passenger volume is estimated to be 6.8 billion passengers.
The Europe region had the greatest increase in passenger traffic in 2022, driven by the summer travel demand surge, with two billion passengers, or 81.1% of the 2019 level.
In 2023, ACI predicts recovery will slow down in the region, marking 2.2 billion passengers, or 92.2% of the 2019 level.
ACI world director general Luis Felipe de Oliveira said: "Increasing passenger volumes, rising consumer confidence in most OECD countries, combined with declining jet fuel prices, suggests air travel demand will remain strong into the northern hemisphere summer season.
"But we must be vigilant. GDP growth forecasts have moderated and energy and food prices, although decreased from their peak levels, remain higher than pre-pandemic levels. Inflation will also be an issue in the near term, straining the financial viability of airports as they face increased operational costs."
Amidst this background, Oliveira said, regulators "must support" airports by allowing them to operate as businesses "in their own right".
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