After weeks of gradual decline, GDP estimates for many countries have levelled off. Consensus forecast for world GDP growth in 2020 is -3.9%.

World Trade Organization forecasts the volume of world merchandise trade to shrink by 9.2% in 2020 followed by an estimated rise of 7.2% in 2021.


IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.


The global economy is estimated to contract by 4.2% in 2020 and bounce back by 5.3% in 2021.

Covid-19: Decline in Global GDP


As of 3 November 2020

decrease in Charter airline revenues


In 2020, the effect of the ongoing coronavirus pandemic will result in charter airline revenues falling to $22.1bn, a year-on-year decrease of $16bn.

Revenue Bump for full-service Airlines


By 2024, GlobalData figures expect the total revenue for full-service airlines to break the trillion-dollar mark, reaching $1.1tn.

Post-Covid-19 recovery


GlobalData estimates that the aviation market will recover to pre-corona levels in the majority of markets by 2022, although this could change if further travel restrictions are imposed.

Key Aviation market trends

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