The forecast for labour costs in the Canadian air transport sector shows a steady rise from 2024 to 2028, increasing from CAD 6.86 billion to CAD 7.5 billion. For context, actual data from 2023 reveal a total cost of CAD 6.72 billion, representing a consistent upward trend each year. Year-on-year growth rates highlight a progression: 2.48% in 2025, 2.28% in 2026, 2.22% in 2027, and 2.04% in 2028. Over the projected period, the compound annual growth rate (CAGR) stands at 2.13%, depicting stable cost elevation.
Future trends to watch for include:
- Technological advances aimed at reducing operational costs.
- Impact of potential regulatory changes on employment expenses.
- Macroeconomic factors and their influence on labor supply and demand.
- The effect of global market fluctuations on Canada's air transport industry.
