In 2023, the air transport output in Austria stood at 2.86 billion Euros. Observing past trends, Austria's air transport sector experienced fluctuations, with a notable decline in 2020 and 2021 due to external shocks, likely the COVID-19 pandemic. Recovery commenced in 2022 with an 80.77% year-on-year growth, only to drop by 16.32% in 2023. The compound annual growth rate (CAGR) over the last five years (2018-2023) stands at -6.11%. Moving forward, the forecast indicates a decreasing trend with a forecasted 5-year CAGR of -2.31% and an overall decline of 11.02% by 2028.
Future trends to watch for include:
- Recovery dynamics post-pandemic
- Impact of environmental policies and sustainability measures
- Technological advancements in air transport
- Changes in consumer behavior and travel patterns
