The Role of U.S. Airports in the National Economy (2015) / Chapter Skim
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1 S U M M A R Y The Role of U.S. Airports in the National Economy Introduction The objective of ACRP Project 03-28 is to estimate the economic role of U.S.
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2 product may be sent by air to a customer. Similarly, business travel is a means to provide services or facilitate sales.
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3 MFP estimates the growth in value added in reaction to changes of all inputs into production processes. In this study, the research team estimated growth in net value added from: (1)
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4Output Value Added (GDP) Labor Income/Profits Output = total value of production (includes business sales/public revenues)
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5 on-airport activities (direct and multiplier effects7) , the net impact for international visitor spending, and total contributions (including multipliers)
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6on industry sectors and how airports support industry business impacts, the CS analysis estimated the potential overall economic impact of airfare price changes. For the MFP and CS analyses, 1% changes were assumed in connectivity variables, cargo tonnage, and airfares.
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Table S-3. Estimated impact in 20 metropolitan statistical areas (mSas)
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8The Impact of Increased Air Cargo to the U.S. Industrial Base A second MFP analysis was conducted to gauge the relationship of economic productivity and air cargo.
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9 Economic Role of U.S. Airports in the National Economy The economic analyses examined in this research include the existing contributions of U.S.
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10 varying by which of the connectivity variables change. (The variables are shown in Table S-2 and Table S-3.)
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11 by business travelers are listed below. Note that the first three bullets are directly applicable to connectivity: • Frequent domestic and international service; • A choice of nonstop domestic and international flights; • Concentration of flights to and from particular markets during peak hours; • Reliable schedules with minimal delays; • Ease of rush hour commute to and from the airport; and • Lower relative ticket costs, with competition on popular routes in order to reduce fares.
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