Economic Environment

Development of the Macroeconomic Conditions

Despite numerous geopolitical crises, the global economy and world trade developed moderately positively in 2024. Global efforts to curb inflation have had an impact, and central banks lowered interest rates over the course of the year.

In the euro area, the economy lost momentum due to stagnating industrial production, particularly in Germany. Private consumption did not recover as much as expected and business investment also declined.

The export-dependent German economy stagnated in the reporting year. Despite the growth in income following the fall in inflation, private consumption provided little impetus. Capital investments also remained subdued. According to provisional data, German exports declined. The German economy performed weaker than the European average and remained below the economic situation of other industrialized countries, particularly by international comparison.

In the USA, the economy benefited from buoyant consumption in the wake of falling inflation and rising government spending. In many emerging markets, monetary policy remained restrictive despite falling key interest rates, which hampered investment.

In China, industrial production picked up last year and exports grew, but the economy suffered from subdued domestic consumer demand as a result of the current housing crisis and the over-indebtedness of local governments.

The price of crude oil, which can have an impact on air ticket prices and consequently on air traffic demand, and the significant exchange rates for the Fraport Group developed as follows in 2024:

Development of the Legal Environment

During the past fiscal year, there were no changes to the legal environment with a significant influence on the business development of the Fraport Group.

Development of the Industry-Specific Conditions

According to the preliminary figures from Airports Council International (ACI), global passenger traffic increased by 8.4% in the period from January to November 2024 compared to the same period the previous year. Air freight volume rose by 8.8%. European airports also recorded a jump in passenger numbers of 7.9%. In terms of air freight, European airports posted an increase of 10.6%. The passenger numbers at German airports recovered by 7.4%. Cargo tonnage increased by 2.2%.