Ungated Post | 26 Feb 2018
The economic impact of UK rail 2018
This major Oxford Economics study for the Railway Industry Association investigates the support provided to UK GDP, jobs, and taxes by the country’s rail-related industries. The industries covered include the railway network itself, the whole of the UK-based supply chain for that railway system and for railway systems overseas, retailers and caterers operating at railway stations, and the supply chain for those retail outlets. Activity ‘induced’ by the wage-funded spending of staff working in these industries is also included. Taking all of these activites together, some £36 billion of GDP was supported in 2016 – equivalent to 2.3 percent of the UK economy. This was sufficient to support almost 600,000 jobs – 1.7 perecent of national employment – and to generate £11 billion in tax revenues. The figures include the impact of railway construction activity as well as ‘day-to-day’ supplies of goods and services, and take in London Underground and other local networks in addition to the ‘mainline’ system.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia Pacific
Peter Suomi
+65 6850 0110
Email
EMEA
Aoife Pearson
+44 (0)203 910 8054
Email
Related Services
Post
Generating ROI with AI: Six capabilities that drive world-class results
Generative AI has taken the business world by storm, with large language models (LLMs)—including OpenAI’s ChatGPT—splashed across the news. And executives aren’t immune to the hype. AI is becoming an ever-larger component of IT budgets, with worldwide spending on AI-centric systems expected to hit $154 billion this year—up 27% over 2022. But will enterprises spend these resources wisely? Our research says yes—if organizations take a disciplined approach.
Find Out More
Post
Deep Green
A global research study that details the current state of play on environmental sustainability actions and how data, technology and collaboration will drive the next phase of sustainability in business.
Find Out More
Post
Leveraging Technology to Promote Financial Inclusion
Oxford Economics and Red Hat surveyed executives at financial institutions internationally to discover how they are using technology to expand financial inclusion while gaining business benefits.
Find Out More