London Gatwick Contributes £5.5 Billion to UK Economy in 2023

Emirates aircraft taxiing at London Gatwick Airport
Photo Credit: London Gatwick Airport

A recent study by leading economists Oxera revealed London Gatwick Airport’s significant contribution to the UK economy.

In 2023, the airport generated a staggering £5.5 billion, nearing pre-pandemic levels. This economic impact extends beyond just the airport itself.

It supports over 76,000 jobs across six key regions in the South East: West Sussex, East Sussex, Surrey, Kent, Brighton and Hove, and Croydon.

Gatwick at UKREiiF: Highlighting Investment Opportunities

This news coincides with a landmark event – a delegation from the Gatwick Diamond region attending UKREiiF, the UK’s premier event for attracting investment to its regions.

London Gatwick is co-funding this delegation, ensuring the region has its first-ever representation at the event. This provides a valuable platform to connect with over 10,000 global investment decision-makers.

An aerial view of London Gatwick Airport
Photo Credits: Gatwick Airport

Spearheading Regional Collaboration: Invest Gatwick Diamond

Spearheaded by London Gatwick Airport, the delegation is a collaborative effort involving the Gatwick Diamond Initiative and branded under Invest Gatwick Diamond.

This initiative unites county councils, local authorities, and private sector partners from Sussex, Surrey, Kent, and South London, showcasing a powerful regional coalition.

Gatwick Focus on Airport Economic Zones (AEZs)

As part of the delegation’s activities, Alison Addy, Head of External Engagement and Policy at London Gatwick Airport (LGW), will participate in a panel discussion.

The discussion will explore how successful Airport Economic Zones (AEZs) operate globally, focusing on how they define, organize, and promote themselves.

AEZs are strategic collaborations between airports and surrounding regions. These zones work to attract inward investment by enhancing their combined appeal.

London Gatwick is actively exploring the potential for establishing an AEZ around the airport in partnership with regional stakeholders.

Aerial view of London Gatwick Airport runway.

Economic Impact and Future Growth

Tim Norwood, Chief Planning and Corporate Affairs Director at London Gatwick, emphasizes the importance of these figures. “These figures showcase our impressive recovery. But it’s crucial to remember the human element.”

“These numbers represent the livelihoods and well-being of tens of thousands of individuals, families, and businesses across the region.”

Norwood acknowledges the need for continued efforts: “The South East offers immense potential to global investors. However, we can’t take future economic growth for granted.”

“Competition for investment is fierce globally. We’re thrilled to be working with our partners to attract new business opportunities, trade, and jobs to the region.”

Gatwick Diamond Initiative: A Vibrant Economic Hub

Adding his perspective, Brett North, Chairman of the Gatwick Diamond Initiative, also gave comment. “We are a thriving economic region, with Gatwick Airport at its core.”

“Our ideal location near London and the wider world makes us proud to represent the region for the first-ever time at UKREiiF.”

“We look forward to showcasing the best of the Gatwick Diamond, particularly areas where Gatwick has collaborated with businesses to establish strong international connections.”

London Gatwick Airport is a major international airport located in Crawley, West Sussex, England. It is the second-busiest airport serving London.

The airport continues to contribute significantly to the economic well-being of the surrounding region. Gatwick boasts direct flights to over 230 destinations worldwide, making it a crucial gateway for international travel and trade.

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By Len Varley - Assistant Editor 4 Min Read
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