Asia, South America poised to take over air travel by 2034
Over the next 20 years, China will become the world’s largest air passenger market, pushing the US into the number two spot.
The latest data released by International Air Transport Association (IATA), reveals that by 2034 China will carry 2.9 billion travellers, with the US expected to move 1.4 billion.
India will follow in third spot with 367 million annual passengers, 266 million more than today, overtaking the UK from its current position in third place.
The report, which analyses passenger movement, forecasts passenger numbers using three key demand drivers: living standards, population and demographics, and price and availability, according to a skift report.
Brazil, Indonesia and Japan will all follow on from India, with growth attributed to improved economies and living conditions in both continents, according to Jason Sinclair, a spokesman for IATA.
“Flying is cheaper than what it used to be and people have more disposable income now,” Sinclair told skift.
“The average ticket prices have declined in the last twenty years by one-third, when adjusted for inflation, making it possible for emerging economies like Brazil, China and Indonesia to travel more.”
Regional travel will also spike in Asia and the Middle East, with each having an average growth rate of 4.9% by 2034 according to the report, followed by Africa and Latin America with a 4.7% annual growth rate in two decades. Europe and North America, it was reported, will each have the lowest annual growth rates of 3.3% and 2.7% respectively.
China will also command the fastest growing domestic market at 5.6% per year followed by the US, India, Indonesia and Brazil.
According to the skift report, Sinclair advised it was too early to tell which destinations Chinese travellers would be visiting over the next 20 years.
Email the Travel Weekly team at traveldesk@travelweekly.com.au
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