Despite various negative forecasts, the airline industry got back on track soon afterwards. Not only did the demand not fall, but it underwent significant increases. Another element which could affect the functioning of the airline industry in a negative manner is represented by the concerns for the environment. Leaving aside the issue represented by the phonic pollution, aspects such as global warning may become an important concern for the airline industry should the issue gain a high importance on the public and political agendas. So far, however, the issue did not manage to influence people's choices regarding travelling by airplane, regardless of the attempts made in this directions by various politicians. (Pickard, 2006)

How the economy affects the success of your chosen industry

Economy can play an important part on the functioning and development of the airline industry. From this point-of-view, it can be stated that, just like any other industry, the airline one functions depending on the relations between supply and demand. Both supply and demand are under the influence of economic mechanisms.

The success of the airline industry depends on various policies and regulations adopted at economic level. Under these circumstances, one can underline the importance of the regulations regarding the minimum wages or the price of fuel. Regardless of these aspects, it can be stated that the efficient functioning and the successful development of...

A rich economy is translated into a higher standard of living, and therefore into an increased demand for a variety of services including the ones provided by the airline industry.
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Pickard, C. (2006, October 9). Global Warming fears fail to dampen demand for air travel. Retrieved April 21, 2001, from OAG data Web site: http://www.oag.com/oag/website/com/OAG+Data/News/Press+Room/Press+Releases+2006/Global+Warming+fears+fail+to+dampen+demand+for+air+travel+0910064

Satarupa, D. Dr. . (2005, April 28). The Concept of Elasticity in Economics. Some Applications of Price Elasticity of Demand. Retrieved April 21, 2007, from Northern Virginia Community College Web site: http://www.nvcc.edu/home/sdas/elasticity/applications.htm