International passenger transport expenditure from Brazil saw significant fluctuations over the past decade. Starting from a peak in 2013, the expenditure exhibited various degrees of annual change. Notably, after a severe drop in 2015 and 2016, the market partially recovered before plummeting in 2020 due to the pandemic. Post-2020, there has been a strong recovery trend, culminating in a notable 19.07% year-on-year increase in 2023, representing expenditures of $4.34 billion. The Compound Annual Growth Rate (CAGR) for 2023 stands at 1.84% over the past five years.
The forecasts up to 2028 predict a steady growth trajectory, with a five-year CAGR of 1.8% and a total forecasted growth rate of 9.33%. This suggests a stable increase in international passenger transport expenditure from Brazil, reaching $4.86 billion by 2028.
Future trends to watch for include evolving travel restrictions, economic conditions in Brazil, and global fuel price fluctuations, all of which could influence the year-on-year variations in expenditure. Additionally, technological advancements and consumer confidence in international travel post-pandemic will be crucial factors affecting future market dynamics.