Vancouver Airport Authority and the 400-plus businesses that operate at the airport generate thousands of jobs, millions of dollars in taxes and billions of dollars in wages and gross domestic product (GDP) through day-to-day operations and construction projects.
That’s according to a new Economic Impact Report, released earlier this month at the Airport Authority’s Annual Public Meeting, which highlights how operations at YVR financially benefit the local, provincial and national economies.
In 2010, YVR provided more than 23,600 direct jobs – or $1 billion in wages – for a direct impact of $1.9 billion to the national economy in terms of gross domestic product (GDP). Indirectly, YVR generates $5.3 billion in total GDP and $11.7 billion annually in total economic output to the Canadian economy.
Also highlighted in the report is the significance of new flights and routes, such as the recently announced China Southern Airlines service to Guangdong. A daily international flight creates about 186-person years of direct employment, while an all-cargo flight creates about 73 person-years of direct employment. For every direct job at YVR, there are 2.5 more indirect and induced jobs.
The report underscores the importance of our aggressive plan to grow international traffic with the Asia-Pacific Gateway strategy, which includes a goal to double international air service in the next five years; build connectivity by reducing connection times for passengers travelling through YVR en route to other destinations; and work with various levels of government and business partners to encourage traffic growth.
Read more highlights from the 2010 Economic Impact Report.