By Bonnie Smith & Felicity Burke
Strong passenger demand, the desire for in-person meetings, conferences, and events, and positive travel industry momentum over the last six months continues to drive growth for business travel incrementally, according to FCM Consulting’s latest Global Trends Report.
Global passenger demand, as reported by IATA, was up 9.1 per cent in June 2024 compared to the same month in 2023.
International passenger demand saw the largest growth of 12.3 percent and passenger load factors were 85 per cent, an increase of 12.7 per cent year-on-year. Domestic passenger demand was 4.3 per cent, and passenger load factors were 85 percent, an increase of 2.1 per cent year-on-year.
Total seats offered for calendar year 2024 is up 3.04 per cent (175 million increase) on 2019 levels and up 6.15 per cent (352 million rise) on 2023. This calendar year is the new baseline for aviation growth after 2023. And 2025 airline schedules are forecast to be positive with continued increases.
Global hotel occupancy climbed to nearly 70 per cent by the end of H1-2024, and air travel demand grew steadily throughout the same period. As the northern hemisphere summer emerges, we forecast travel demand to grow steadily through the next quarter.