From 2013 to 2019, Belgium's Air Transport Gross Value Added (GVA) experienced a general upward trend, reaching a high of €582.9 million in 2019. The dramatic drop in 2020 (-85.07%) reflects the severe impact of the COVID-19 pandemic. Recovery began in 2021 with a significant rise of 161.84% and continued robustly into 2022 with a 112.34% increase. In 2023, the GVA stood at €583.1 million, showcasing a continued recovery with a 20.55% year-on-year increase.
Forecasts from 2024 to 2028 indicate stability, with minor annual increases, positioning the GVA to hover around €583.7 million by 2028. This stability is indicative of a mature recovery phase and potential market saturation.
Future Trends to Watch For:
- Technological advancements enhancing operational efficiency- Environmental regulations impacting operational costs- Strategic partnerships and mergers potentially altering market dynamics- Rising fuel prices and their effects on profitability and pricing strategies- Post-pandemic travel patterns shaping long-term demand
