Asia-Pacific’s Growth Spurs Record-Setting Year for Global Air Travel and Cargo in 2024

The Asia-Pacific region contributed approximately 50% of the net increase in the movement of both passengers and goods.

Global air passenger and cargo volumes posted record highs in 2024, with the Asia-Pacific contributing the most to the growth of the aviation industry.

The International Air Transport Association (IATA) reported a 10.4% year-on-year increase in global demand for air travel in 2024, as measured by total revenue-passenger kilo-metres (RPK).

This exceeded the previous record – in 2019, the year before the Covid-pandemic – by 3.8 percent.

Global cargo tonne kilometers (CTK) for 2024 increased by 11.3%, surpassing the previous record set in 2021 by 0.5%.

The Asia-Pacific region was the largest contributor globally, accounting for 51.2% of passenger traffic growth and 46.6% of cargo traffic growth.

RPK is a measure of actual demand for air transport, derived by multiplying the number of paying passengers by the number of kilometres flown. CTK is a similar measure, but for cargo, calculated by multiplying the tonnage of freight carried by the distance flown.

The Asia-Pacific region clocked the most growth and remained the biggest market in both passenger and cargo aviation.

The passenger volume (RPK) there rose 16.9 percent, and the region accounted for a third (33.5 percent) of the global total.

Africa was the only other region that had double-digit growth, at 13.2 percent. The second-largest market by passenger volume was Europe, with a 26.7 percent share, but growth there was only 8.7 percent.

IATA noted that 2024 marked a “total regional recovery”, in that all regions surpassed their pre-pandemic levels.

Globally, airline passenger capacity – measured in available seat kilo-metres – went up 8.7 percent. Capacity utilization was a record high, at 83.5 percent.

IATA director-general Willie Walsh said that people made it clear in 2024 that they wanted to travel. “With 10.4 percent demand growth, travel reached record numbers domestically and internationally,” he said.

He added: “Airlines met that strong demand with record efficiency. On average, 83.5 percent of all seats on offer were filled –a new record high, partially attributable to the supply chain constraints that limited capacity growth.”

This year, he expects passenger aviation to grow at a moderated pace – by 8 percent, which is more aligned with historical averages.

In cargo, Asia-Pacific’s CTK grew 14.5 per cent year on year, outstripping Latin America in second place at 12.6 percent. Asia-Pacific also retained 34.2 percent of the total cargo market, compared to second-place North America, with 25.8 per cent.

“Air cargo was the standout performer in 2024, with airlines moving more air cargo than ever before,” said Walsh, who noted that air cargo’s 11.3 percent expansion was driven by strong e-commerce and cargo being put on planes because of ocean-shipping restrictions.

“Economic fundamentals point to another good year for air cargo – with oil prices on a downward trajectory and trade continuing to grow,” he said, but added that cargo growth is expected to moderate to 5.8 percent in line with historical performance.