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Victoria International Airport Facilitates Economic Growth
Jan 17, 2018
Victoria International Airport Facilitates Economic Growth
Airport operations generate $880 million in economic impact annually
Victoria Airport Authority engaged InterVISTAS Consulting to conduct an economic impact study. The study was conducted to measure the economic contribution associated with the ongoing activities of Victoria International Airport. The study concluded that in 2017, the operations of Victoria International Airport generated 4,200 person years of employment, $270 million of wages in British Columbia, $420 million in Gross Domestic Product (GDP), and $880 million in economic output; the gross dollar value of industrial output produced and reflects the spending by firms, organizations and individuals.
|
Impact |
Employment |
Wages |
GDP |
Output |
|
|
|
Jobs |
FTEs |
($ Millions) |
($ Millions) |
($ Millions) |
|
Direct |
2,800 |
2,500 |
$170 |
$230 |
$540 |
|
Indirect |
1,100 |
1,000 |
$60 |
$100 |
$200 |
|
Induced |
800 |
700 |
$40 |
$90 |
$140 |
|
Total |
4,700 |
4,200 |
$270 |
$420 |
$880 |
The last economic impact study was conducted in 2005 which at that time indicated $441 million in economic output and 2,920 FTEs.
“It is no surprise the overall increase in economic impact, given the growth in passenger numbers at the airport which have almost doubled since then, and the increase in the number of businesses that have chosen to operate on the airport property. Intuitively people understand the importance of an airport to the local community, but not necessarily the actual economic impact. We wanted to quantify the annual dollar amount, and when you see numbers approaching one billion dollars in annual impact, it drives home the importance of a vibrant and growing airport”, said Geoff Dickson, President and CEO of the Victoria Airport Authority.
For more information on the Economic Impact Study, please visit the Victoria International Airport website: www.victoriaairport.com
About Victoria International Airport
Victoria International Airport (Airport Code: YYJ) is the 10th busiest airport in Canada with over 1.93 million passengers per year. Victoria is well served with more than 100 daily flights throughout North America. YYJ was rated among one of the top ten most-loved airports in the world by CNN Travel and was twice named ‘Best Regional Airport in North America’ by Airports Council International.
Media Contact Victoria Airport Authority
Geoff Dickson
President and CEO
Executive Offices: (250) 953‐7501
