Global air travel recovery seen by 2024

Global air passenger volumes are expected to be back to pre-pandemic level in 2024, with the Philippines seen to recover the following year, amid the pandemic.

In a webinar, Samuel David, Country Manager for the Philippines at International Air Transport Association (IATA), said this forecast does not factor in the impact of the conflict between Russia and Ukraine.

He said the recovery will not be the same for all regions across the world.

“We are collectively seeing signs of recovery and that recovery is also evident in the Philippines. Like for a few other countries in Asia Pacific, note the Philippines, the recovery will not be in 2024, it will in our forecast happen in 2025,” he added.

David said air travel numbers are estimated to reach 8 billion in the next 20 years as people take to the skies despite uncertainties, such as risk of another pandemic.

He said passenger processing times have increased up to 100 percent of pre-coronavirus disease 2019 (Covid-19) levels despite air traffic being only 65 percent of 2019 volumes.

Maja Pangilinan, Senior Partnerships Lead for Google Travel Clients, said that despite the persistence of Covid-19, underlying demand for international travel in the future is strong with a three times jump in intent.

Pangilinan said the number of trips will reduce as travelers are two times more likely to travel less frequently.

But they are likely to travel longer and spend much more as travelers prefer luxury and convenience or premium travel, she said.

“Lastly, we have also seen that there is a growing consciousness on sustainability across the region –particularly in Singapore and the Philippines,” she added.

Pangilinan said a study from Booking.com found that 83 percent of travelers think sustainable travel is vital, while 61 percent of them say the pandemic has made them want to travel more sustainably in the future.

July 28, 2022