In this webinar organized by IATA and Oxford Economics discuss the optimistic outlook for air travel in 2023. Despite ongoing uncertainties, the forecast paints a positive picture for the travel industry. Key factors contributing to this resurgence include pent-up demand, prioritization of travel spending, and the gradual recovery of international travel.
Latest data for 2023 show a positive outlook for air travel recovery in 2023 and onwards. Domestic air travel has surpassed pre-pandemic levels, especially in China and other major markets, and this trend is expected to continue. International travel is recovering at varying rates across regions, with strong growth between Europe and North America, while some Asia-Pacific routes are lagging but still improving.
The upcoming peak travel season in 2023 is predicted to be busier than the previous year, although total travel volumes are projected to remain below pre-pandemic levels. Challenges such as supply chain disruptions, staff shortages, and geopolitical uncertainties could impact capacity and travel experiences. Nevertheless, airlines are anticipated to achieve profitability due to increased demand, improved consumer sentiment, and the ability to charge for travel services. Overall, the forecast suggests a promising recovery for air travel in 2023 and beyond, despite ongoing uncertainties.
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