The production value of services incidental to air transportation in Italy has experienced significant fluctuations over the years. From 2013 to 2019, the value showed a steady increase, reaching its peak in 2019 with a value of 5.67 Billion Euros. The most dramatic drop occurred in 2020, when the value plummeted by 53.29%, primarily due to the global COVID-19 pandemic. The recovery started in 2021 and continued with a strong rebound, reaching 6.15 Billion Euros in 2023. The year-on-year growth was particularly notable in 2021 (56.81%) and 2022 (27%). The Compound Annual Growth Rate (CAGR) over the past five years has averaged 3.63%.
Future trends to keep an eye on include:
- Technological advancements in air transportation services.
- Potential regulatory changes impacting the aviation industry.
- Shifts in consumer behavior due to environmental concerns.
- Impact of geopolitical events on air travel demand.
- Recovery trajectories from any new global health crises.