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.
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
2024 Fujitsu SX Survey: Accelerating Sustainability Transformation with AI
In the face of rapid technological advancements, businesses and society are undergoing significant transformations. At the same time, addressing sustainability issues such as geopolitical tensions and climate change remains a critical management challenge.
Find Out More
Post
The True Cost of Compliance
This report updates last years’ research on the detection and prevention of financial crime, and it’s cost to the UK financial services sector. We surveyed 254 senior compliance executives about their costs and compliance activities, and extrapolated the results to estimate the costs across the UK Financial Services sector. The report, by LexisNexis Risk Solutions,…
Find Out More
Post
Impact AI: Enterprise AI Maturity Index 2024
Oxford Economics and ServiceNow fielded a global survey of 4,470 executives at organizations where artificial intelligence capabilities are in use.
Find Out More