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When Will Air Travel Return to Pre-Pandemic Levels?

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when will air travel return to pre-pandemic levels?

When Will Air Travel Return to Pre-Pandemic Levels?

Many industries were hit hard by the global pandemic, but it can be argued that air travel suffered one of the most severe blows.

The aviation industry as a whole suffered an estimated $370 billion loss in global revenue because of COVID-19. And while air travel has been slowly recovering from the trough, flight passenger traffic has yet to fully bounce back.

Where is the industry at in 2022 compared to pre-COVID times, and when is air passenger travel expected to return to regular levels? This graphic by Julie R. Peasley uses data from IATA to show current and projected air passenger ridership.

Air Travel Traffic: 2021 and 2022

After an incredibly difficult 2020, the airline industry started to see significant improvements in travel frequency. But compared to pre-pandemic levels, there’s a lot of ground to cover.

In 2021, overall passenger numbers only reached 47% of 2019 levels. This influx was largely driven by domestic travel, with international passenger numbers only reaching 27% of pre-COVID levels.

Passenger numbers (% of 2019)20212022
International27%69%
Domestic61%93%
Africa46%76%
Asia Pacific40%68%
Caribbean44%72%
Central America72%96%
Europe40%86%
Middle East42%81%
North America56%94%
South America51%88%
Industry-wide47%83%

From a regional perspective, Central America experienced one of the fastest recoveries. In 2021, overall passenger numbers in the region had reached 72% of 2019 levels, and they are projected to reach 96% by the end of 2022.

In fact, the Americas as a whole has seen a quick recovery. Both North America and South America also reached above 50% of 2019 ridership in 2021, and are projected to reach 94% and 88% ridership in 2022, respectively.

On the opposite end of the spectrum, Asia Pacific has experienced the slowest recovery. This is likely due to stricter lockdowns and travel restrictions put into effect in this region (which was harder hit by SARS in 2003), especially in places like Shanghai.

Forecasting Traffic in 2023 and Beyond

While recovery has looked different from region to region, airlines are largely expected to see a full recovery to their ridership levels by 2025.

Forecasted Passengers (% of 2019)202320242025
International82%92%101%
Domestic103%111%118%
Africa85%93%101%
Asia Pacific84%97%109%
Caribbean82%92%101%
Central America102%109%115%
Europe96%105%111%
Middle East90%98%105%
North America102%107%112%
South America97%103%108%
Industry-wide94%103%111%

This recovery is a signifier of a much broader mindset shift, as governments continue to reassess their COVID-19 management strategies.

But while the future seems promising, IATA stressed that the forecast does not take into account the potential impact of the Russia-Ukraine conflict and other geopolitical concerns, which could have far-reaching consequences on the global economy (and travel) in the coming years.

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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Markets

Ranked: The World’s 50 Most Profitable Companies in 2024

From tech giants to energy giants, the world’s most profitable companies in the world generate profits greater than some countries’ GDPs.

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Treemap showing the most profitable companies in the world in 2024.

The Most Profitable Companies in the World in 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

From Big Tech to energy giants, a select group of corporate titans continues to dominate the financial landscape, generating profits that dwarf the GDPs of some nations.

This graphic visualizes the world’s 50 most profitable companies in 2024, based on data from Fortune. Rankings include public and private companies that report financial data.

Figures represent corporate profits after tax, extraordinary credits, and noncontrolling interests for company fiscal years ended on or before March 31, 2024.

What was the Most Profitable Company in the World in 2024?

Below, we show the top 50 most profitable companies in the world, according to Fortune.

RankCompanyProfits ($B)Sector
1Saudi Aramco120.7Energy
2Apple97Technology
3Berkshire Hathaway96.2Financials
4Alphabet73.8Technology
5Microsoft72.4Technology
6Industrial & Commercial Bank of China51.4Financials
7JPMorgan Chase49.6Financials
8China Construction Bank47.0Financials
9Meta Platforms39.1Technology
10Agricultural Bank of China38.0Financials
11Exxon Mobil36.0Energy
12Johnson & Johnson35.2Health Care
13Toyota Motor34.2Motor Vehicles & Parts
14Bank of China32.8Financials
15Amazon30.4Retailing
16Nvidia29.8Technology
17UBS Group27.8Financials
18Taiwan Semiconductor Manufacturing27.4Technology
19Bank of America26.5Financials
20Petrobras24.9Energy
21HSBC Holdings23.5Financials
22UnitedHealth Group22.4Health Care
23TotalEnergies21.4Energy
24Chevron21.4Energy
25China National Petroleum21.3Energy
26China Merchants Bank20.7Financials
27Stellantis20.1Motor Vehicles & Parts
28Shell19.4Energy
29Deutsche Telekom19.2Telecommunications
30Wells Fargo19.1Financials
31Volkswagen17.9Motor Vehicles & Parts
32Sberbank17.7Financials
33Fannie Mae17.4Financials
34Visa17.3Financials
35Petronas16.3Energy
36Tencent Holdings16.3Technology
37Walmart15.5Retailing
38Mercedes-Benz Group15.4Motor Vehicles & Parts
39Comcast15.4Telecommunications
40China Mobile Communications15.3Telecommunications
41BP15.2Energy
42Home Depot15.1Retailing
43Tesla15.0Motor Vehicles & Parts
44Rosneft Oil14.9Energy
45Novartis14.9Health Care
46Procter & Gamble14.7Household Products
47China National Offshore Oil14.6Energy
48AT&T14.4Telecommunications
49Broadcom14.1Technology
50Lukoil13.6Energy

Saudi Aramco was the world’s most profitable company in 2024, recording $120.7 billion in profits last year.

The national oil company of Saudi Arabia was also the sixth-largest company in the world by market capitalization and the most valuable non-U.S. company, as of January 2025.

With the largest proven oil reserves globally, Saudi Aramco’s production costs are $3 a barrel—a fraction of Western oil producers—leading it to generate more profits than any other company in the world.

Coming in at second is Apple, fueled by its high-margin services arm and iPhone sales, generating $97 billion in profits. Warren Buffett’s conglomerate holding company Berkshire Hathaway came in at third, with $96.2 billion in profits.

Berkshire Hathaway also joined the $1 trillion market cap club this August, among the ranks of tech giants like Apple, Microsoft, and Nvidia.

Across the top 50 most profitable companies, 14 are in the financial industry, followed by 12 in energy, and eight in technology.

Learn More on the Voronoi App

To learn more about some of the most powerful companies in the world, check out this graphic shows the top 35 largest companies globally by revenue.

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