A new study has revealed that London City Airport directly contributes nearly €600 million to the UK economy each year.
The study, carried out by independent air transport consultancy York Aviation, highlights for the first time the combined economic benefits that London City Airport delivers. They include:
• €230 million spent by business tourists coming via London City Airport
• €135 million spent by leisure tourists coming via London City Airport
• €83 million from productivity benefits delivered through journey times savings by using London City Airport
• €25 million in Air Passenger Duty
• €118 million through operations and businesses at London City Airport that also support over 2,700 jobs
Alongside this the York study demonstrates that London City Airport’s role in facilitating wider economic growth could support as much as an additional €1 billion of GDP.
Richard Gooding, chief executive of London City Airport, says: “This study confirms just how important London City Airport is to the national, regional and local economies. Our growth has gone hand in hand with the success of Canary Wharf, the City of London and enterprises like ExCel showing that we are key to business productivity and the revenue that is generated by passengers using the Airport.”