Vaccination programmes clearing the skies for Air Travel
Showing signs of recovery, the global passenger air transport market is expected to grow from US$460 billion in 2020 to US$524.8 billion in 2021 and reach US$657.15 billion in 2025, with demand driven largely by leisure travel.
This optimism is echoed by the International Air Transport Association (IATA). IATA believes that Covid-19 vaccination programmes would allow international air travel markets to open up more fully, and the recovery would be V-shaped and speedy. The Association expects that by 2023, the passenger numbers to be 105% that of 2019. Countries with large domestic markets like US and China rebounding first, and Asia Pacific to be the strongest growing region, followed by Africa and the Middle East.
Will the pent-up demand help businesses in travel and tourism make a strong comeback?
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