Saudi Arabia's air passenger market has exhibited significant fluctuations over the past decade, driven by socio-economic factors and the global pandemic. The number of air passengers saw a sharp decline in 2020 due to COVID-19, recovering swiftly in subsequent years.
Observing recent trends, 2023 experienced a robust year-on-year growth of 20.75%, standing at 53.763 million passengers. The last 5-year CAGR (compound annual growth rate) prior to 2024 was 6.22%, reflecting stable growth amidst recovery phases.
Future trends to watch for include the continued expansion of Saudi Arabia's tourism sector, investments in airport infrastructure, and potential disruptions due to global economic conditions or health crises.
