The trade group for international airlines has lowered its 20-year passenger forecast because of the global economy and, in particular, slower economic-growth projections in China.
The International Air Transport Association said it is forecasting global passengers to reach 7 billion by 2034, or a 3.8 percent annual average growth demand.
That's slightly down from an earlier IATA forecast of 7.4 billion passengers in 2034, or a 4.1 percent average annual growth rate.
"Economic and political events over the last year have impacted some of the fundamentals for growth," Tony Tyler, IATA director general and CEO, said in a news release. "As a result, we expect some 400 million fewer people to be traveling in 2034 than we did at this time last year.
"Air transport is a critical part of the global economy. And policy-makers should take note of its sensitivity. The economic impact of 400 million fewer travelers is significant. Each is a lost opportunity to explore, create social and cultural value, and generate economic and employment opportunities."
01/12/15 Jerry Siebenmark/Mcclatchy/AviationPros
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The International Air Transport Association said it is forecasting global passengers to reach 7 billion by 2034, or a 3.8 percent annual average growth demand.
That's slightly down from an earlier IATA forecast of 7.4 billion passengers in 2034, or a 4.1 percent average annual growth rate.
"Economic and political events over the last year have impacted some of the fundamentals for growth," Tony Tyler, IATA director general and CEO, said in a news release. "As a result, we expect some 400 million fewer people to be traveling in 2034 than we did at this time last year.
"Air transport is a critical part of the global economy. And policy-makers should take note of its sensitivity. The economic impact of 400 million fewer travelers is significant. Each is a lost opportunity to explore, create social and cultural value, and generate economic and employment opportunities."
01/12/15 Jerry Siebenmark/Mcclatchy/AviationPros
