Adjusted for the Covid-19 effect, according to the study, Zurich Airport calculates added value of CHF 7 billion and creates jobs for 27,400 employees at over 300 companies.
Every five years, Flughafen Zürich AG has the most important economic data collected externally. The latest study was carried out by the research and consulting company Infras with the reference year 2021. Two scenarios were calculated: the value added without Covid-19 (based on 2017-2019 growth) and the effective loss due to the pandemic compared to the last survey five years ago. The district that was opened in 2020 was included in the survey for the first time.
Without the Covid-19 pandemic, the companies based at Zurich Airport would have generated added value of CHF 7 billion per year. That would correspond to 4.4 percent of the gross domestic product (GDP) of the canton of Zurich or just under 1 percent of the national GDP, i.e. the airport. In 2021, the number of full-time equivalents at Zurich Airport would have fallen by 14 percent compared to 2016 due to Corona and would have led to a loss of added value of 43 percent if the district had not been opened in 2020. The commissioning of the new quarters at the airport compensated for part of this loss: the total added value fell by 16 percent, the full-time equivalents even increased by a total of 4 percent to 22,800 thanks to the many new companies in the district.
With 40 percent of the value of exports (130 billion francs per year), air freight continues to be of great relevance to the Swiss economy. On average, 1,076 tons of freight are handled daily at Zurich Airport, including transit freight traffic. This underlines the importance of a dense network of long-distance connections for the Swiss economy. 99 percent of the freight at Zurich Airport is transported in the belly of passenger planes, 82 percent of which goes to America and Asia.
The article Switzerland: External study shows the economic relevance of Zurich Airport first appeared on Aviation.Direct.
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