Ungated Post | 12 Mar 2018
Gatwick Airport’s Impact on the Visitor Economy
In the latest of a series of reports for Gatwick, Oxford Economics estimated the impact of Airport on the local and national visitor economies. The study measured the pattern of overseas and domestic visitor trips and spending across the South East and the UK, and quatified the resultant economic impact in terms of GDP, jobs and tax revenues.
In 2017, an estimated 5.5 million international visitors arrived in the UK via Gatwick, spending £3.9 billion in the visitor economy on hotel stays, restaurant meals, retail purchases, and leisure and cultural attractions. The demand facilitated by Gatwick Airport boosted UK GDP by some £4.7 billion, supported 93,300 jobs and generated £1.2 billion in tax revenues.
Much of the tourism activity supported by Gatwick is enjoyed by businesses in the local area, with roughly three-quarters of the impact concentrated in London and the South East. In particular, our analysis suggested that overseas visitors spent 4.6 million nights in the Coast to Capital LEP, supporting 22,900 local jobs and generating £1.2 billion value.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
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