Passenger traffic in China has shown a significant decline from 2013 to 2021, with a stark decrease in 2020 and 2021 due to the COVID-19 pandemic. However, 2022 marked a sharp increase of 93.28%, signaling a recovery. In 2023, the passenger traffic stood at 1.7669 x 10 billion units, showing a year-on-year increase of 10.11%.
Looking ahead, from 2024 onwards, the forecasted data indicate a gradual stabilization in passenger traffic, with marginal growth expected until 2028. The Compound Annual Growth Rate (CAGR) for 2024 to 2028 is forecasted at 0.14%, pointing to a modest growth trajectory.
Future trends to watch for:
- Impact of economic fluctuations on travel demand
- Continued recovery from the pandemic's effects
- Development and expansion of transportation infrastructure
- Influence of environmental policies on travel behavior
