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TopAirports And Regional Development
The significant role of airports on regional economy has been well recognised in many researches; airports bring significant social benefits and in many cases they are thought to be the single largest generator of economic activity in the regions they serve (Air Transport Action Group (ATAG), 2008). Additionally, many reports highlight that European regions with airports and significant air services have a better social and economic development with lower unemployment, higher productivity and higher income per-capita, compared to regions without airports (ACI Europe, 2004).
The benefits of airports are measured in terms of direct employment, inward investment and tourism, trade with the rest of the world, cultural development and travel for education and leisure (Maughan, Raper, Thomas & Gillingwater, 2001). The economic impact that an airport causes on a region equals with the sum of direct, indirect, induced and catalytic impact (Graham, 2008).
Based on a recent report, airports’ contribution to the overall regional economies, in terms of Gross Domestic Product (GDP), can vary from 1.4 to 2.5%, excluding tourism impacts; failure to provide increases in airport capacity could cost between 2.5 and 3% of national or regional GDP (ACI Europe, 2004).