The turnover in the service activities incidental to the air transportation sector in Spain has shown significant fluctuations over the past few years. Actual turnover increased steadily from 2016 to 2019. The sector experienced a sharp decline in 2020, likely due to the global pandemic, but rebounded in 2021 and continued to grow through 2023. By 2023, the turnover stood at 9.37 billion euros. In the last couple of years, the sector exhibited robust growth with year-on-year increases of 22.3% in 2022 and 13.06% in 2023. The five-year CAGR leading up to 2023 was 27.95%, reflecting a strong recovery post-pandemic.
Looking forward, forecasted turnover suggests a more moderate growth trajectory. By 2028, turnover is anticipated to reach 9.93 billion euros, with a five-year CAGR from 2024 to 2028 projected at 0.82%. Future trends to watch include the impact of digital transformation in air transportation services, potential regulatory changes, and the recovery pace of global travel to pre-pandemic levels.
