Dear readers, in May 2023, Latin America and the Caribbean (LAC) sured, for the second time this year, the enger traffic levels of 2019. However, this month, the Middle East positioned itself as the region with the highest recovery in the world, exceeding 3,2% from May 2019 levels.
The region presents an excellent performance in of domestic and international enger movement. It is worth mentioning that, for the first time after the pandemic, Brazil sured the number of domestic engers with 7,3 million engers (+3%). Like Argentina and Chile, they continue with the growth trend, suring their 2019 levels.
Aviation has proven to be an essential service for the population. Proof of this is that some of the countries with the lowest economic growth were those that carried the most engers, as is the case of Brazil, Mexico, Colombia and Chile, where Mexico and Colombia fully recovered both in domestic and international traffic.
The World Bank estimates a slowdown in economic growth in LAC to 1,5% in 2023, which represents a drop of 0,2 points compared to its January 2023 forecasts, therefore, for this year, restrictive monetary policies are expected due to internal inflation which remains high. However, with unemployment rates at historically low levels, demand for air travel is expected to remain stable despite reduced consumer purchasing power due to inflation.
All of these factors paint a complex picture, which is why state agendas are important to continue developing an essential sector that generates jobs and opportunities.
This trend will be discussed in ALTA AGM & Airline Leaders Forum in Cancún, from October 22nd to 24th. Sector decision makers (public and private) will gather to discuss the most pressing challenges and opportunities in the region.
With increasingly rising numbers, even with the adversities that the sector still faces, it is time to reinforce before society the role of aviation as the driving force of the economy.
See also:
- The day I paid a fine of BRL 700,00 to be able to board Ryanair
- Flight Report: what is it like to fly in Business Class on Azul's Airbus A350?
- After two years, where are the Itapemirim planes?
By José Ricardo Botelho – CEO of ALTA
