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Industry revenue of »passenger air transport« in Norway 2011-2023

Although Norway has witnessed a steady growth in international tourist arrivals over the years, revenues of its passenger air transport industry are projected to decline from 5.3 billion U.S. dollars in 2014 to 3.8 billion U.S. by 2023, even though leading tourism markets such as the UK and Spain are witnessing growth. The main reason is the increasing airline fares owing to the rising fuel costs, which has resulted in increasing number of consumers opting for alternatives such as sea travel. In fact, the number of individuals visiting Norway on cruise ships have more than doubled between 2010-2018, from 410,000 to 852,000.

The outbreak of the corona virus pandemic has further added to the industry’s woes, as a complete lockdown has been enforced by the authorities. One of the largest airlines in the country, Norwegian air, has reported a loss of over 330 million U.S. dollars for the first quarter of 2020. In order to mitigate the impact in the short to medium term, the Norwegian government is planning to suspend airline taxes.

Industry revenue of »passenger air transport« in Norway from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Norway. The industry “passenger air transport“ has the code “H511“.

Details on the methodology can be found here.

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Statistics on "Transport industry in Norway"

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