The turnover in the service activities incidental to the air transportation sector in Belgium saw significant fluctuations from 2013 to 2023, with values expressed in billion euros. The highest turnover was recorded in 2013, reaching 1.31 billion euros. This was followed by a period of variability, with notable declines in 2014 and 2016 but recovery in 2015 and 2017. The sector faced a sharp decline in 2020 due to the impact of the COVID-19 pandemic, dropping to 0.7435 billion euros. However, it quickly rebounded, showing consistent growth from 2021 to 2023, culminating at 1.21 billion euros in 2023.
Year-on-year variations emphasize the sector's volatility, with significant drops such as -39.06% in 2020 and substantial increases like 30.26% in 2021. The most recent year-on-year variation in 2023 showed an 8.94% increase, signaling a trajectory of recovery and stabilization. The Compounded Annual Growth Rate (CAGR) over the past five years is 0.47%, indicating modest but steady growth during the examined period.
Future trends to watch for include potential impacts of technological advancements in air transportation and regulatory changes. The world’s increasing emphasis on sustainability may also drive changes in service activities within this sector. The forecast shows a marginal growth rate, indicating the sector's maturation and possible need for innovation to sustain competitive advantage.
