Incheon: Annual passenger demand at Incheon International Airport, the country's main gateway, is expected to grow by just 2 percent this year, the airport operator said Tuesday, citing ongoing external uncertainties such as rising oil prices linked to the Middle East conflict. The number of passengers in the first quarter came to 19.78 million, up 7 percent from the same period last year, according to Incheon International Airport Corp.

According to Yonhap News Agency, total passenger demand is projected to rise from 73.56 million last year to 75.07 million this year, marking a modest 2 percent rise. The corporation pointed to factors such as the war-related oil price hikes and flight cancellations as contributing to the limited growth.

Specifically, some airlines have recently reduced routes to Southeast Asia amid the surge in oil prices. However, the corporation stated that the impact would be limited, as demand for routes to Japan and China remains strong. The corporation noted that passenger traffic on routes to Japan and China rose by 27.3 percent and 16.9 percent on-year, respectively, in the first quarter, while routes to Southeast Asia and the Middle East saw declines of 27.3 percent and 1 percent.

It added that if the war is prolonged, the upward trend in passenger demand will slow further due to rising fuel surcharges and an economic downturn.