The number of people taking flights each year is set to more than double over the next 20 years topping 7.3 billion, according to the first report from IATA’s new passenger forecasting service.
The analysis reveals the significant impact the growing markets of Asia-Pacific, Latin America and Africa will have on the global sector.
IATA predicts that China will overtake the US as the world’s largest passenger market by 2030, and that many European countries will slip down the top ten rankings to be replaced with developing economies.
The report concludes that by 2034 India will be the third largest passenger market in the world, pushing the UK down to fourth in the rankings.
Meanwhile, Germany, Spain and France are set to lose ground to Brazil and Indonesia. Japan’s aging population will see it slip from the fourth largest market today to ninth in 2034.
Countries in Africa are predicted to see the swiftest growth in percentage terms (rather than passenger numbers) with the Central African Republic, Madagascar, Tanzania and Burundi expected to be among the world’s fastest growing markets.