IATA forecasts 'bright' future for air transport industry in India

IATA stated (16-Jan-2019) "the future of India's air transport industry is bright. However, this does not mean that the future flightpath will be without turbulence". According to the latest forecasts from IATA/Tourism Economics, "demand for air travel to, from and within India" will increase at an average rate of 6.1% p/a over the next 20 years, expanding to close to 520 million passengers p/a by 2037, up by 359 million passengers p/a from 2017. IATA expects domestic passengers to "account for around 63% of the total growth over this period, or 228 million additional passengers". Higher income driven improvements in living standards in India are expected to contribute 5.1% of the 6.1% p/a increase in air travel demand, while "favourable population and demographic factors are forecast to contribute 0.6%". IATA projects India will overtake Germany, Japan, Spain and the UK to become the third largest air traffic market worldwide within the next 10 years and "will hold this position through to the end of our forecast horizon in 2037". [more - original PR]