The Jet Age keeps expanding

Air travel once had an upper-middle class vibe. People dressed for it. There was a bit of excitement to it. Some people might even miss those days.

But what we’ve gained is access and affordability. Since 2000, the average air fare – measured against the median wage of a nonsupervisory worker – has dropped by half. So a blue-collar worker could earn the price of two plane tickets now in the time it took to earn one in 2000.

So it’s not too surprising that while the US population grew 22 percent over the past 25 years, the number of plane-passenger trips grew by 51 percent. Air travel took a dip during the pandemic, and as it has come back the mix is different. Business travel is still down, perhaps permanently with more remote work and videoconferencing. But leisure travel is stronger than ever.

Sources: Doomslayer at the Human Progress Institute, BCG, US Travel Institute