Vietnam Airlines has experienced fluctuations in passenger traffic in Australia from 2013 to 2023. The growth was steady from 2013 to 2019, peaking before drastically falling in 2020 due to the COVID-19 pandemic with a 58.52% decline. Recovery ensued with a notable rise in 2021 and significant increases in subsequent years, ultimately reaching 427.99K passengers in 2023. The year-on-year variation for 2022 and 2023 was 37.76% and 3.15%, respectively. The 5-year CAGR leading to 2023 is 3.52%, indicating gradual recovery and growth.
Forecasts predict continued growth from 2024 onwards, with passenger figures expected to increase to 490.34K by 2028, maintaining a CAGR of 2.41% and an overall growth rate of 12.66% over this period.
Future trends to watch for include:
- Economic conditions and their impact on travel demand.
- Potential resurgence or new strains of COVID-19 and associated travel restrictions.
- Expanding airline partnerships and networks that may increase traffic.
- Increased competition from other airlines on the Australia-Vietnam route.
