The number of air passengers carried in South Korea stood at 104.03 million persons in 2023, marking a remarkable recovery from the dip in 2020 and 2021 due to the pandemic. The year-on-year variations from 2023 indicate a strong post-pandemic rebound with a significant 22.06% increase. Over the last five years, the compound annual growth rate (CAGR) was 3.37%, demonstrating a recovery and growth trend despite the earlier disruptions. Looking forward, the forecast from 2024 to 2028 suggests a steady growth trajectory with a 5-year CAGR of 3.61% and an overall growth rate of 19.39%.
Future trends to watch for:
• Impact of geopolitical and economic factors on travel.
• Evolving traveler preferences post-pandemic.
• Technological advancements and their influence on the travel industry.
