Key Market Indicators
Luxembourger passenger transport expenditure is projected to decline significantly, reaching approximately $24 million by 2028, down from $42 million in 2023. This marks an average annual decrease of 9.1%. The trend has been ongoing since 2013, with an annual decline rate of 9.6%. In 2023, Luxembourg ranked 35th in passenger transport expenditure, with Croatia slightly ahead at around $42 million. The top spots were held by France, Canada, and Italy, respectively. On the revenue side, Luxembourg's passenger transport sector is expected to grow. Revenue is set to climb to about $711 million by 2028, up from $561 million in 2023, representing a compound annual growth rate (CAGR) of 3.7%. This growth trend has been consistent since 2007, with an annual increase of 3.8%. In 2023, Luxembourg ranked 27th in passenger transport revenue, with Tunisia just ahead at $561 million. Leading the ranking were Qatar, Ireland, and Russia.
