Key Market Indicators
Azerbaijan's passenger transport revenue is projected to experience a slight decline over the next five years. According to recent forecasts, the country's revenue in this sector is expected to drop to approximately $211 million by 2028, down from the current $212 million in 2023. This represents an annual decrease of 0.1%. Since the turn of the millennium, Azerbaijan's passenger transport market has seen an average annual growth rate of 1.6%. However, the country's ranking in global terms remains modest. In 2023, Azerbaijan was positioned 39th worldwide in passenger transport revenue. Bahrain led the rankings with a similar revenue figure of $212 million. Close behind were Qatar, Ireland, and Russia, holding the second, third, and fourth places, respectively.