Study finds airport boosts economy by £1 billion

A new study has revealed that Newcastle International Airport contributes over £1 billion annually to the North East economy and supports more than 17,000 jobs. 

The report, developed in partnership with leading infrastructure consultancy Arup, showcases the airport's importance as a vital gateway to the region and a driving force for economic growth, tourism, investment and employment. 

An assessment of the airport’s 2023 operations found that the airport directly employed 3200 people with nearly 14,000 additional jobs supported through its supply chain. 

It also showed that the airport’s partnerships with almost 270 suppliers, including many local businesses, contributed £200 million to the local economy.

Additionally, the airport helped attract nearly 500,000 overseas visitors, contributing £360 million in spending, while business trips brought a further £278 million to the region.

Nick Jones, chief executive at Newcastle Airport, said: “This report reaffirms Newcastle Airport’s position as a major economic asset for the North East.

“Generating more than £1 billion annually and supporting more than 17,000 jobs demonstrates the key role we play in driving economic growth and making the region a prime destination for international business and investment.

“The findings also showcase the far-reaching impact of our operations, from bringing millions of visitors to the region each year who boost the local economy to strengthening the education sector by attracting students from around the world.”

With 17 airline partners and direct flights to over 80 destinations, the airport, which was recognised as ‘Best in the World’ at the at the World Routes Conference, in Bahrain, continues to fuel regional investment, tourism and trade. 

Projections also show that by 2040, its economic impact could nearly double, reaching £2 billion in GVA and supporting 32,000 jobs.

Nick added: “Looking ahead, we are committed to building on these achievements and working with our partners to ensure the North East sustains a thriving economy and is well-positioned to embrace even more trade and investment opportunities.”

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