Transportation and Logistics
Overall passenger numbers point to widening access to international travel in recent years, with consistent year-on-year growth being witnessed since the early 2000s. Freight levels too have been on the up, increasing every year between 2012 and 2018. These increases come despite a slowing rate of globalisation witnessed recently.
The transport sector is taking a considerable hit in the wake of the ongoing pandemic, fuelled by a changing structure of consumer demand. From the perspective of work-based travel, the shift towards telecommuting will manifest in a fall in commuter numbers, both domestically and internationally. Meanwhile, amidst restriction measures, falling discretionary incomes, and changing attitudes to foreign travel, leisure-based travel is also likely to take a hit. The combination of these factors poses a significant threat to revenues for businesses in the sector.