The industry consensus forecast released by the International Air Transport Association (IATA) indicates that by 2014 there will be 3.3 billion air travelers, up by 800 million from the 2.5 billion in 2009. By 2014 international aviation will handle 38 million tonnes of air cargo, up 12.5 million tonnes from the 26 million tonnes carried in 2009.
Europe is experiencing a recovery in travel from its low points last year. However, this recovery is unlike like past rebounds. Early data for this year show mixed results, with nearly as many countries posting visitor declines as increases. Still, industry data for aviation, lodging, and expectations show we are on an upward, though modest, path to recovery.
In the second installment of Deloitte Touche Tohmatsu’s (DTT) 20/20 Global Shift series, global leaders from DTT and its member firms examine three events shaping the current global business agenda-- the Greek debt crisis and its affect on the Eurozone, globalization of regulation, and the ‘green business’ initiative.