What can a major global event really do? Beyond the buzz of headlines, photo ops, and the palpable excitement of athletes, fans, and celebrities flocking to the host city, these events are also a significant driver of global travel, particularly for highnet-worth individuals (HNWIs). The Olympics, one of the world’s largest and most prestigious events, is a prime example of how such spectacles create a ripple effect across various industries. From tourism to media, the impact on the host nation’s economy is unmistakable. Further, it’s noteworthy how global events like the Olympics fuel the business aviation sector.

HNWIs, dignitaries, and corporate executives travel in private jets, seeking flexibility, convenience, time savings and the ability to arrive fresh and ready for business or leisure. The latest edition of the Olympics was no exception, with private jet activity surging to meet the demands of the high-profile attendees. According to data from WingX Advance, an aviation industry intelligence company, the Olympics significantly impacted business aviation, driving increased movements across several regions.

The opening ceremony and key sporting events became hotspots for private jet traffic, particularly from the United States (US), with many flights passing through the United Kingdom (UK). This Olympic surge helped the business aviation market recover from what had been a sluggish first half of 2024. WingX Advance reported that year-to-date trends, which had been flat, started to climb back, marking a turning point for the sector.

Europe emerged as a bright spot for the business jet market this summer. The Olympics not only drew record numbers of private jets to France, where many events were held, but also brought an influx of sports fans into the UK. While demand in the US slowed slightly in early August after a strong July, Europe’s leisure market remained a key driver of growth, with high-end tourists fueling private jet movements across the continent.

In line with the Olympics’ impact, Germany, host of the UEFA Euro 2024 that were held prior to the Olympics also saw a nine per cent increase in bizjet activity during the Euro qualifiers in Week 25, despite a two per cent year-on-year decline.

THE BIZJET ACTIVITY TRAIL

In contrast, business jet activity in key destinations across Asia and Africa remained subdued, with a weaker August performance mirroring the US slowdown. However, the overall global trend remained stable, majorly due to the Olympics’ ability to attract global elites. In late July, global business jet activity had reached 74,198 flights during the Olympics, matching the same period in 2023. Charter and fractional ownership flights grew by two per cent, totaling 39,722 sectors flown in the last month of July. WIngX noted that nearly 25 per cent of Week 30’s bizjet flights were managed through aircraft management programs, indicating continued demand for private travel services.

The opening ceremony and key sporting events became hotspots for private jet traffic, particularly from the United States (US), with many flights passing through the United Kingdom (UK)

When August began, business jet activity held strong with 70,212 sectors flown, just one per cent below the previous year. While this was lower than the Week 26 peak of 76,524 flights, the four-week trend remained positive at 0.2 per cent above 2023 levels. By mid-August, global bizjet movements saw a slight dip, with 69,409 sectors flown, down 1 per cent year-over-year. The four-week trend stayed resilient, up by 0.3 per cent from last year. However, year-to-date, global bizjet activity (January to August 11) was down one per cent from 2023 and three per cent from 2022. Total flight hours followed a similar trend, down two per cent year-over-year.

NORTH AMERICAN BIZJET TRENDS IN AUGUST

In North America, Week 30 saw 50,871 bizjet departures, consistent with last year’s numbers. The US, the world’s busiest private jet market, recorded nearly 49,000 flights, a one per cent increase year-over-year. The US contributed 94 per cent of North America’s total bizjet movements.

In July, US bizjet activity rose by two per cent compared to 2023, with Canada seeing a seven per cent decline. Flight hours in the US increased by three per cent year-over-year, driven by key states like Florida, California, and Texas, all of which saw growth in departures. Conversely, Colorado’s bizjet activity dropped by two per cent, while New York experienced robust growth.

The Paris Olympics boosted trans-Atlantic flights, particularly between New York and Paris. In Week 30, there were 20 flights from New York to Paris, compared to just three the previous year. Vista Jet and NetJets were leading operators in this surge of high-end travel during the Games.

In Week 32, among the top 10 US states, only New York and Massachusetts showed year-on-year growth. Westchester County saw a 10 per cent increase in flights, with NetJets as the leading operator. Leisure destinations like Nantucket and East Hampton grew by 28 per cent and 125 per cent, respectively.

In August, turboprops accounted for 26 per cent of bizjet departures in L.A., with very light jets making up just 1 per cent. The Van Nuys–John Wayne route was the most active, with 46 flights recorded. As Los Angeles prepares for the 2028 Olympics, eVTOL aircraft are being explored as a solution to traffic congestion.

Cessna jets led US bizjet activity in August, with 27,500 departures, just one per cent below 2023 levels. Embraer saw a four per cent rise, while the newly certified Gulfstream G700 attracted attention. Savannah, Georgia, became a hub for the G700, with 53 active aircraft globally.

EUROPEAN BUSINESS AVIATION SURGE DURING SPORTING EVENTS

The Olympics drove a significant rise in European business jet activity, especially in France, which saw a 17 per cent increase during Week 30 compared to 2022. European bizjet traffic rose four per cent overall, with the UK up 10 per cent. On the day of the opening ceremony, France saw 382 bizjet arrivals, and Paris Le Bourget recorded a 53 per cent increase. New York was a key origin point for flights to Paris, with a 200 per cent surge in traffic.

While Olympic cities flourished, European vacation hotspots saw mixed results. Mykonos lagged pre-pandemic levels, but Olbia and Sardinia recorded their busiest July in five years. Ibiza and Mallorca saw declines in activity compared to previous years.

In Week 31, bizjet activity across Europe grew six per cent, with France leading the way at 19 per cent. As August progressed, France continued to see strong growth, with a 25 per cent increase in Week 32. Paris Le Bourget’s traffic spiked by 73 per cent on the day of the men’s 100m sprint final. Italy, Spain, and the UK also experienced robust bizjet demand, while Germany saw a four per cent decline.

France’s bizjet traffic ended strong in Week 32, up 18 per cent, with Nice Côte d’Azur becoming the busiest airport. London-Nice connections surged by 40 per cent. Ultra Long-Range jets dominated the final weekend of the Olympics, with 56 arrivals in Paris between August 9-11.

GLOBAL BIZJET ACTIVITY DECLINES

While business jet activity continued to thrive in North America and Europe, accounting for around 90 per cent of global movements, the picture elsewhere was less optimistic. In recent weeks, bizjet departures outside these two major markets showed a marked decline, with regions such as the Middle East and Africa bearing the brunt of this downward trend.

In Week 30, bizjet activity in the Middle East dropped by 16 per cent compared to the same period in 2023. Key cities like Abu Dhabi, Dubai, and Riyadh saw significant declines in business jet movements, contributing to an overall nine per cent reduction in the region’s four-week trend compared to last year. Although Week 31 saw a modest three per cent recovery in activity, it wasn’t enough to offset the broader slowdown. The region, which typically accounts for about 25 per cent of bizjet traffic outside North America and Europe, is experiencing a lingering decline, with a seven per cent drop in bizjet flights during the previous month.

Despite this general downward trend, the United Arab Emirates (UAE) presented a brighter spot, with a noticeable increase in bizjet traffic, particularly in connections between London and Dubai. This uptick highlights the ongoing appeal of Dubai as a destination for high-net-worth travelers, even amid broader regional challenges.

Africa’s business aviation sector has been hit even harder. In Week 30, bizjet activity across the continent plummeted by 23 per cent year-on-year, with major cities like Johannesburg, Lagos, and Cape Town all recording significant declines. The four-week trend shows a nearly 20 per cent decrease in bizjet flights compared to the same period last year. As of Week 32, the situation has not improved, with bizjet departures down by 24 per cent year-on-year.

In contrast to the declines seen in the Middle East and Africa, South America has shown a slight uptick in bizjet activity. Week 30 saw a one per cent year-on-year increase in departures across the region, a small but positive sign amid broader global challenges. However, by Week 32, bizjet flights in South America had fallen by five per cent compared to the same period last year, indicating that growth remains fragile.

Asia also saw a reduction in bizjet activity in recent weeks. Bizjet departures from the region fell by eight per cent during Week 32, adding to the overall global decline outside North America and Europe. The region’s reliance on commercial aviation and the slow recovery of international business travel in some parts of Asia may be contributing factors to this drop in bizjet movements.

While North America and Europe continue to dominate the global business aviation landscape, the rest of the world is experiencing a slowdown in bizjet activity. The Middle East, Africa, Asia, and South America have all recorded declines over the past month, with Africa seeing the steepest drop. As global economic uncertainty and geopolitical challenges persist, these regions may face continued pressure in their business aviation sectors, highlighting the uneven recovery in the post-pandemic world. However, bright spots like the UAE and modest growth in South America suggest that certain markets still hold promise for future growth.

As Europe plays host to some of the world’s most prestigious sports events, business aviation is thriving. The Olympic Games and UEFA Euro tournament have drawn an influx of high-net-worth individuals, athletes, and corporate executives, boosting bizjet traffic across key European cities. France, in particular, has benefited from this surge, with airports like Paris Le Bourget handling record numbers of business jets.

The growth in business jet activity reflects the unique demands of high-profile global events, with private aviation offering flexibility, convenience, and luxury. As the European sports calendar continues to evolve, the business aviation sector is poised to capitalise on future opportunities, further cementing its role as a critical player in the region’s transportation landscape.