Industry Analysis & Industry Trends
The Global Airlines industry has taken off over the past five years. Airlines have exhibited positive growth since 2010. As unemployment has declined in developed economies and disposable income has risen in emerging economies, vacation and discretionary travel spending has increased. In addition, the number of business travelers, who usually pay a premium for tickets, has increased over the past five years as corporate profit has risen, which has bolstered businesses' travel budgets. Over the five years to 2020, passenger numbers are expected to rise as income levels increase worldwide and business spending ramps up. Travelers from fast-growing emerging economies will especially benefit the industry.
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The Global Airlines industry has performed strongly over the past five years, boosted by the improving global economy. As disposable income levels have increased over the past five years, consumers have spent more on discretionary services. Global tourist arrivals have increased 4.8% per year on average over the past five years, with particularly strong growth in emerging economies. According to the International Air Transport Association, the United States currently has the fastest-growing major domestic market. Other markets, such as Asia and Europe, have been slower to grow due to prolonged meek regional economic conditions or weakness in their domestic economies. Combined, these three regions account for an estimated 84.0% of the Global Airlines industry's revenue... read more