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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.
According to the text, a reduction in word economic growth
means that
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