The website Aviationbusiness.com is reporting that a Deloitte Access Economics report shows Sydney Airport contributes $30.8 billion to the Australian economy and generates just over 300,000 jobs.
The website Aviationbusiness.com is reporting that a Deloitte Access Economics report shows Sydney Airport contributes $30.8 billion to the Australian economy and generates just over 300,000 jobs. This is equivalent to 6.4% of the New South Wales GDP and 8.9% of New South Wales employment.
“Sydney Airport, like airports around the world, is an economic powerhouse driving jobs and economic growth,”Sydney Airport managing director and chief executive officer Kerrie Mather said, commenting on the reports findings.
“Not only is Sydney Airport the gateway to Australia, welcoming 38.5 million passengers last year, but the airport also invests in capital works, creates jobs, facilitates trade, attracts new investment, grows tourism and strengthens the competitiveness of the NSW visitor economy. The economic activity generated by Sydney Airport is forecast to increase to over $54.5 billion and grow to 500,000 jobs over the next 20 years.
Since 2002, the airport has invested $2.66 billion in capital works and plans to invest a further $1.2 billion over the next five years.
The report highlights the importance of the Chinese passenger market, which is Sydney Airport’s second largest and fastest growing market.
“An additional daily A380 service to Sydney from China would have a positive economic impact, contributing an estimated $451 million to the Australian economy, $271 million to Australia’s household income and 5,260 jobs over a year,” Ms Mather said.
It also emphasises the value of air freight, which is important to business and airlines as it creates additional revenue to support the economic viability of an air route.
“Sydney Airport is Australia’s largest international and domestic air freight hub, facilitating the export of $14.6 billion worth of freight in 2014,” Ms Mather said
http://www.aviationbusiness.com.au/news/sydney-airport-an-economic-powerhouse for copy of the article.
http://www.sydneyairport.com.au/corporate/media-centre/media-releases/media-release-detail/2015/ for Sydney Airport media release.