The number of air passengers carried in South Asia has seen significant growth over the past decade, from 93.893 million in 2013 to 217.45 million in 2023. This represents substantial growth, driven by increasing demand and a growing middle class. The impact of COVID-19 caused a significant drop in 2020, but the sector recovered strongly, achieving an 86.74% year-on-year increase in 2022. The most recent year-on-year growth in 2023 was 20.46%, with a five-year CAGR from 2019 to 2023 of 2.78%.
Future trends to watch for in the South Asia air passenger market include:
- Technology advancements in aviation
- Increase in low-cost carriers
- Enhanced infrastructure and airport capacity
- Economic growth and greater disposable incomes
- Potential geopolitical and health crisis impacts
