Past income helps predict air travel in more markets than air travel helps predict income, and in many markets neither helps predict the other. These are tests of prediction only.
What this shows: The vertical axis shows Number of markets.
Conditions and method
Status: provisional (estimated in a small bivariate system; omitted macro drivers could alter the result).
Each market is placed by one test at one lag, and a direction counts when that test is significant at the uncorrected 5% level. The United States is counted under ‘Neither’ here. Its own chart, which tests every lag and uses a stricter test, reads GDP as helping to predict US air traffic.