The passenger air transport sector in Spain has shown significant fluctuation over the years. Starting from a value of €8.21 billion in 2013, the turnover demonstrated a consistent growth trend until 2019 when it reached €12.74 billion. The COVID-19 pandemic in 2020 caused a dramatic drop, plunging the turnover to €4.93 billion. However, the sector quickly rebounded, achieving €11.52 billion by 2022. In 2023, the turnover stood at €13.42 billion, indicating a 16.56% year-on-year increase.
Over the last two years, the sector experienced robust growth with an impressive average annual growth rate (CAGR) of 2.65% from 2019 to 2023. Looking ahead, the forecasted CAGR from 2023 to 2028 is a more moderate 1.59%, with a total growth rate of 8.21% by 2028.
Future trends to watch for include the ongoing impact of post-pandemic travel demand, potential regulatory changes related to environmental sustainability, and technological advancements that could enhance operational efficiency and passenger experience.
