Economic impact: Jobs, growth and technology development
Aviation forms a vital part of the European economy. Several studies demonstrate its direct contribution to employment, trade and connectivity. In addition, it generates not only for itself but also for other economic sectors such as tourism. Air navigation services provide aviation’s indispensable backbone.
Until the onset of the Covid-19 pandemic, air transport supported 12.2 million jobs and USD 823 billion of gross domestic product (GDP) according to the UN International Civil Aviation Organisation (ICAO). Every person employed in the aviation sector and in tourism made possible by aviation supported another 4.7 elsewhere in Europe. Similarly, every USD 1 of Gross Value Added (GVA) directly created by air transport led to USD 4.3 in economic value elsewhere in Europe. The aviation sector directly employed 2.6 million people in 2016/17. In addition to USD 192.6 billion direct impact on GDP, the effect on the procurement of goods and services throughout the European supply chain had an impact of USD 225.5 billion.
These stark numbers help us to remember the impact of Covid-19 and the important role played by FABEC to provide the airborne infrastructure that enabling economic welfare in Europe.