Aviation growth could unlock billions in wasted economic potential – study
Ilaria Grasso MacolaThe UK’s growth could be "turbo-charged" if the government did more support sustainable aviation development, leaders from some of the UK’s biggest industries have said.
Boosting the country’s air links could unleash the potential of sectors reliant on international connectivity such as financial services, life sciences and advanced manufacturing, a new study has found, and would unlock billions in new economic activity over the next decade.
Research published by Manchester Airports Group (MAG) on Wednesday (22 May) highlights how the UK’s most important economic sectors are typically those most reliant on aviation, and are projected to grow two percentage points faster than the national average, worth in excess of £10 billion to the economy.
MAG said the study by WPI Economics proved that if the UK wanted to double down on its status as the world’s second largest exporter of services behind the US, it would have to take the aviation sector’s sustainable growth seriously. “Strong international connectivity is of critical importance, especially as an island nation,” said MAG chief executive Ken O’Toole.
“That is why we need to accelerate the plan to grow aviation sustainably, so businesses in these sectors can reap the benefits of having better access to the world through airports in all parts of the UK. Whoever forms the next UK government must place that at the heart of their economic plan for the country."
MAG said aviation makes a major contribution not only to the UK’s national GDP, but also to the global economy, with the UK ranking fourth in Harvard’s Global Outgoing Knowledge Index.
The study adds the UK is also one of the best connected countries in the world, with its growth in global business travel outpacing that of countries such as France, the US and Spain.
“The aviation industry is vital to enhancing national and global connectivity and is an essential enabler to propel the UK’s economic prosperity,” said Giulio Corte, technical director and sustainability and climate change aviation lead at global consulting firm WSP.
“Alongside MAG and other partners, we firmly champion the vital need for direct routes to key economic hubs, to catalyse economic growth and opportunity.”
Contributors to the MAG report also highlight how sustainable aviation growth would also benefit local communities and businesses by facilitating the flow of goods and services, and contribute to levelling up efforts across the UK.
“In addition to aiding business travel, the aviation sector helps promote tourism, cultural and educational links,” said Greater Manchester Chamber of Commerce research and information systems deputy director Subrahmaniam Krishnan-Harihara.
“The Greater Manchester Local Industrial Strategy has laid out an ambition for our city region to be a global leader in sectors such as health innovation, advanced manufacturing and materials and digital and technology. Strong air connections to global hubs are essential to achieving this vision.”
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