Budget Airlines Spur Shrinking Japan to Travel: Chart of the Day
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Japan’s aviation market, the world’s third largest, is set to carry the most passengers domestically in seven years as budget airlines spur demand with low fares to counter a shrinking population.
The CHART OF THE DAY compares domestic air-travel passengers with Japan’s population, which has declined since peaking at 127.8 million in 2008, according to U.S. Census Bureau data compiled by Bloomberg. The number of annual fliers dropped for about a decade beginning in 2003, then rose since 2012 when Peach Aviation Ltd., Jetstar Japan Co. and AirAsia Japan Co. started flights.