Key Market Indicators
Indonesia's expenditure on passenger transport is projected to hit $3 billion by 2028, up from $2.8 billion in 2023. This marks an average annual growth rate of 0.9%. However, since 2013, the nation's demand has seen a slight annual decline of 0.1%. In 2023, Indonesia ranked 12th globally in passenger transport expenditure, with Sweden surpassing it at the same $2.8 billion mark. France, Canada, and Italy took the second, third, and fourth spots, respectively. Meanwhile, Indonesia's passenger transport revenue is expected to rise to approximately $1.9 billion by 2028, from $1.7 billion in 2023. This reflects an average yearly growth of 2.1%. Since 2007, the market has experienced a steady annual increase of 2.3%. In 2023, Indonesia also held the 12th position in passenger transport revenue, with Morocco overtaking it with $1.7 billion. Qatar, Ireland, and Russia secured the second, third, and fourth positions in this category.
