The methodology behind the calculator is explained in two core economic studies: the Economic Impact of European Airports – A Critical Catalyst to Economic Growth (InterVISTAS, January 2015) and Regional Economic Impact of Airports (SEO Aviation Economics, October 2015).
Wondering about the true economic impact of your airport? Following the release of a study on the Economic Impact of European Airports last January, ACI EUROPE has just launched an Airport Economic Impact Online Calculator. Specially designed for ACI EUROPE’s members, the tool is accessible in the Members’ Room of the association’s website. Inês Rebelo reports.
The ACI EUROPE Economic Impact Online Calculator provides ACI EUROPE’s members with a customised estimate of the economic impact of their airport both in the country within which their airport is located as well as in nearby neighbouring countries, where relevant. “While the positive economic externalities associated with air transport are now well established, it is important to articulate what this means at a local level, for individual airports,” Donagh Cagney, Manager in charge of Economics at ACI EUROPE, states.
The results, which reflect the volume and nature of air traffic at each individual airport, are based on the direct, indirect, induced and catalytic economic impacts. In this way, the calculator is a powerful tool, containing the jobs and GDP contributions of all the airports in Europe with commercial traffic and for which there was sufficient data available. Cagney is keen to underline one of the main challenges of developing such a tool: “It was particularly challenging, devising a methodology to estimate the catalytic impact of individual airports – so the trade, investment, tourism and increased productivity associated with air links. We worked with SEO Economic Research to devise an approach that reflects the actual characteristics, not only of the airport in question, but also of its surrounding catchment area – so for example the area’s population or level of GDP.”
The ACI EUROPE Economic Impact Online Calculator provides ACI EUROPE’s members with a customised estimate of the economic impact of their airport both in the country within which their airport is located as well as in nearby neighbouring countries, where relevant.
The methodology behind the calculator is explained in two core economic studies: the Economic Impact of European Airports – A Critical Catalyst to Economic Growth (InterVISTAS, January 2015) and Regional Economic Impact of Airports (SEO Aviation Economics, October 2015). Those wishing to use the online calculator are strongly advised to familiarise themselves with this methodology as well as to carefully read the Guide to the tool, which explains how the results should be properly used. As Cagney points out: “These days it is very important to have numbers which are not just credible but also transparent. It is vital that airports are open with third parties as to how the results were derived, what the figures mean and which impacts are included or not. With this in mind, ACI EUROPE has produced an accompanying ‘Guide to the Calculator’, which serves two functions. Firstly, it allows airports to educate themselves about the tool. And secondly, it allows third parties to scrutinise the methodology that underpins the tool, which in turn empowers them to engage with individual airports in an informed way.”
Although the Online Calculator is not a substitute for a full, detailed and tailored economic impact assessment, it represents an important tool to highlight the wider positive impact of an airport on national economies. The data powering the Online Calculator will be updated in due course, as appropriate.
To find out more, visit www.aci-europe.org and click on the ‘Members’ Room’ button to register/login and access the Airport Economic Impact Online Calculator.
