The passenger air transport sector in Belgium demonstrated steady growth from 2013 to 2019, marked by an average annual growth rate (CAGR) ranging between 3% and 6%. The COVID-19 pandemic led to a precipitous drop in 2020, with the sector contracting by 73.61%. A gradual recovery has been observed since then, with year-on-year growth rates showing substantial rebounds, particularly from 2022 onwards. As of 2023, passenger air transport stood at 19.89 billion passenger kilometers, reflecting a 21.3% increase compared to 2022.
The forecast for 2024 to 2028 suggests a continuation of this recovery trend, with a 5-year CAGR of 2.34%, projecting a 12.29% overall growth in value by 2028.
Future Trends to Watch For:
- Potential resurgence in business travel post-pandemic stabilizations.
- Impact of environmental regulations and sustainability measures on air travel.
- Technological advancements in fuel efficiency and alternative fuels.
- Geopolitical developments affecting international travel patterns.
