A new study has found that Newcastle Airport generates more than £1bn each year for the North East economy and could double that over the next 15 years.
The study developed with infrastructure consultancy Arup highlights the airport’s importance to the region in the way it supports investment, tourism and economic growth. It found that the airport had 3,200 direct jobs on its site but also supported more than 17,000 through its supply chains.
With hopes of growing passenger numbers and adding new routes, the report forecasts that the airport could contribute almost £2bn in GVA annually and support around 32,330 jobs by 2040.
READ MORE: {}
The report - which comes after Newcastle Airport won a number of awards - also highlights the airport’s contribution to the region’s education system, helping attract 18,700 international students and supporting training through its partnership with Newcastle College’s Aviation Academy.
The airport is 51% owned by the seven councils in Tyne and Wear, Durham and Northumberland, and 49% by investment manager InfraBridge. Recent reports to the local authorities suggested the privately-owned portion of the airport is about to be sold, though that deal has not yet been made public.
Airport chief executive Nick Jones said: “This report reaffirms Newcastle Airport’s position as a major economic asset for the North East. Generating more than £1bn 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.
“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.”
Most Read
The airport, which was named Best in the World at the Routes World Conference 2024, works with 17 airlines with flights to more than 80 destinations. It links to hub airports in London, Paris and Amsterdam to provide connections to more than 300 onward locations worldwide.
In 2024, the airport welcomed 5.2m passengers and handled a record 6,000 tonnes of cargo, but it wants to increase the proportion incoming visitors it handles. It recently announced plans to expand its baggage claim area and departure lounge.