Key Market Indicators
Australian passenger transport expenditure is projected to decline to approximately $5.3 billion by 2028, down from $5.4 billion in 2023. This represents a 0.3% year-on-year decrease in compound annual growth rate (CAGR). Since 2013, the demand for passenger transport in Australia has seen a modest annual decline of 0.4%. In 2023, Australia ranked seventh in global passenger transport expenditure, trailing behind India, which reported an expenditure of around $5.4 billion. France, Canada, and Italy secured the second, third, and fourth spots, respectively, in this ranking. Conversely, Australian passenger transport revenue is on an upward trajectory, expected to reach $2.4 billion by 2028, up from $2.3 billion in 2023. This marks a 0.7% annual growth rate on average. Since 2000, the Australian market has experienced a steady annual increase of 0.5%. In the 2023 revenue rankings, Australia held the tenth position, with Panama slightly ahead at $2.3 billion. Qatar, Ireland, and Russia occupied the second, third, and fourth positions, respectively.
