The air transport sector in Austria experienced fluctuations over the past decade. The production value declined steadily from 2013 until 2016, picking up slightly in 2017 and 2018. A notable spike occurred in 2019 before plummeting in 2020 due to global disruptions. Recovery was observed starting in 2021, culminating in a value of 2.78 billion euros in 2023. Moving forward, the forecast indicates steady growth, reaching 2.97 billion euros by 2028 with an average annual growth rate (CAGR) of 1.04% over the next five years.
Future trends to watch:
- Technological advancements influencing increased efficiency and productivity.
- Shifts in travel behavior, possibly due to environmental concerns and regulatory changes.
- The impact of economic fluctuations and geopolitical factors on international travel demand.