Published On: Thursday, 18 January 2018

Victoria Airport Generates Annual Impact of $880 Million

Victoria Airport Generates Annual Impact of $880 Million
Victoria International Airport generates $880 million in economic impact each year.

VICTORIA - A just-completed study by InterVISTAS Consulting 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.

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 study was requested by the Victoria Airport Authority to measure the economic impact of the airport, which is the 10th busiest in Canada. The gross dollar value of industrial output estimated by the study included spending by firms, organizations, and individuals.

The last economic impact study was conducted in 2005. At that time, the study reported $441 million in economic output and 2,920 full-time equivilent jobs.

“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," said Geoff Dickson, President and CEO of the Victoria Airport Authority.

"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,” Dickson added.

The airport serves more than 1.93 million passengers annually and handles more than 100 daily flights to destinations throughout North America.

View the Economic Impact Study on the Victoria International Airport website