Transportation
Total global air travel demand increased 5.9 percent year over year in 2014,
and capacity increased 5.6 percent, according to the International Air Transport Association. International passenger traffic increased by the highest percentage in the Middle East (13 percent), Asia/Pacific (5.8 percent) and Latin America (5.8 percent), and more than half of total passenger growth came from emerging markets, according to IATA. Domestic air traffic had the largest percentage increases in China (13.9 percent), India (12.5 percent) and Brazil (11.4 percent). The association noted that U.S. carriers were the "standout performer" among developed countries, with North American international passenger traffic up 3.1 percent and U.S. domestic traffic up 1.7 percent. IATA director general and CEO Tony Tyler in a statement said that while demand growth last year was above the long-term average, "there have been signs in recent months that softening business confidence is translating into a leveling-off of international travel demand."