Key Market Indicators
**Portuguese Airline Revenue Forecast to Hit $4.5 Billion by 2028** The revenue of Portuguese airlines is projected to climb to $4.5 billion by 2028, up from $4.1 billion in 2023. This marks an average annual growth rate of 1.5%. However, the Portuguese market has experienced a slight decline of 0.5% year on year since 2013. In 2023, Portugal ranked eighth globally in airline revenue, with Austria surpassing it to claim the eighth spot with $4.1 billion. The top three positions were held by Germany, Ireland, and Russia, respectively. **Portuguese Air Passenger Traffic Expected to Surge to 43 Million by 2028** Portuguese air passenger traffic is anticipated to increase significantly, reaching approximately 43 million passengers by 2028, up from around 28 million in 2023. This translates to an impressive average annual growth rate of 6.8%. Since 1975, the demand for air travel in Portugal has seen a substantial year-on-year increase of 10%. In 2023, Portugal was ranked 29th in terms of passenger traffic, with South Africa just ahead at the same figure of 28 million passengers. The top three positions were occupied by China, India, and Ireland.
