Middle East passenger numbers set to reach 530 million by 2043: IATA
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Passenger traffic across the Middle East is expected to soar to 530 million by 2043, effectively doubling from current figures, according to the International Air Transport Association (IATA). The 20-year forecast anticipates an average annual growth rate of 3.9% in passenger numbers from 2023 to 2043, slightly surpassing the global average of 3.8%. Also, the region is set to achieve the highest net profit per passenger globally, expected to post a net profit of $6.2 billion, representing an 8.7% profit margin, well above the global average, driven by strong economic performance and demand for both business and leisure travel. As per the IATA Passenger reports, 'Middle Eastern airlines saw a 14.2 per cent year-on-year increase in demand. Capacity increased 9.9 per cent year-on-year, and the load factor increased by +3.0 percentage points to 79.3 per cent compared to April 2023.' With hubs like Dubai, Doha, and Riyadh leading the charge, the focus must now shift to ensuring all parts of the region are equipped to benefit from the coming wave of air traffic and infrastructure development.
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