The global travel industry continues to make leaps and bounds in its recovery, says IATA, with total 2023 traffic nearly matching pre-pandemic demand.

According to IATA’s latest Passenger Market Analysis, total traffic in 2023 (measured in revenue passenger kilometres, or RPKs) rose 36.9% compared to 2022. Globally, full year 2023 traffic was at 94.1% of pre-pandemic (2019) levels. 

December 2023 was a particularly robust month, with total traffic rising 25.3% compared to December 2022 and reaching 97.5% of the December 2019 level. Fourth quarter traffic was at 98.2% of 2019, reflecting the strong recovery towards the end of the year.

International traffic in 2023 climbed 41.6% versus 202 and reached 88.6% of 2019 levels. Domestic traffic for 2023 also rose 30.4% compared to the prior year, and was 3.9% above the full year 2019 level.

North American carriers reported a 28.3% annual traffic rise in 2023 compared to 2022. Capacity increased 22.4% and load factor climbed 3.9 percentage points to 84.6%. 

“The strong post-pandemic rebound continued in 2023. December traffic stood just 2.5% below 2019 levels, with a strong performance in Q4, teeing up airlines for a return to normal growth patterns in 2024,” said Willie Walsh, IATA’s Director General. “The recovery in travel is good news. The restoration of connectivity is powering the global economy as people travel to do business, further their educations, take hard-earned vacations and much more.”

Walsh was quick to note, however, that in a post-pandemic world, governments need to take a more strategic approach to air travel.

“That means providing cost-efficient infrastructure to meet demand, incentivizing Sustainable Aviation Fuel (SAF) production to meet our net zero carbon emission goal by 2050, and adopting regulations that deliver a clear cost-benefit. Completing the recovery must not be an excuse for governments to forget the critical role of aviation to increasing the prosperity and well-being of people and business the world over,” added Walsh.

To read IATA’s latest Passenger Market Analysis, click here.

Source: Travelweek