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Forecast lowered for air travel on slower China growth
A weaker global economy — and a slowdown in China — will
likely dampen some of the growth in air travel over the next
two decades.
The International Air Transport Association says the number
of airline passengers is expected to double to 7 billion by
2034. That figure marks a decrease from a prior forecast
of passengers totaling 7.4 billion in 2034, reflecting lower
economic growth in China that will be likely to reduce demand
for travel and potentially limit airplane orders for manufacturers
Boeing and Airbus.
Despite the lower forecast, China is expected to add 758 million
new passengers for a total of 1.2 billion flyers. Those gains
would likely mean that China surpasses the United States as
the world's largest passenger market by 2029.
Paragraph 2 indicates that aircraft manufacturers would be wise to expect