Outlook 2023: airports need to change with the times – investment and strategy insights. Part Two

2020 and 2021 were terrible years for the airport sector.

2022 has been better, but no sooner did the COVID-19 pandemic start to wane (in most places, but not Asia Pacific) than the Ukraine war set off a series of events that helped plunge much of the western world into a dystopian nightmare of power shortages, high utility prices, inflation (the dreaded stagflation in some cases), and industrial unrest.

Against that background the sector is expected to 'recover' in 2023, while remaining in the grip of global influencers for whom every rotation off a runway is another nail in the planet's coffin. It is going to be another very difficult year, and who knows what additional problems lie in wait around the corner?

However, there are still some bright spots, nationally, regionally and globally.

When peace finally comes, Ukraine, its airports and tourism infrastructure will present the world with its greatest rebuilding challenge for more than 70 years.

While it is also possible that more airports could close, many have taken the opportunity to design or redesign new terminals in ways shaped by the pandemic. For the first time they will actually be in a state of preparedness for a 'Black Swan' event.

More airports need to follow the lead.