Report highlights YVR’s economic benefits
May 13, 2011, Richmond, B.C. - On Thursday, at its Annual Public Meeting, Vancouver Airport Authority released the results of its recent Economic Impact Assessment Report that highlights how operations at Vancouver International Airport (YVR) financially benefit the communities it serves.
In 2010, YVR provided more than 23,600 direct jobs-or $1 billion in wages-for a direct impact of $1.9 billion to the national economy in terms of gross domestic product (GDP). The study demonstrates the significant economic contribution of YVR to the community, province and country and underscores the importance of Vancouver Airport Authority's aggressive plan to grow international traffic.
"I am extremely proud of what YVR has accomplished in one of the most important years in British Columbia's history," said Mary Jordan, Chair ofVancouver Airport Authority. "As we look to the future, we're focused on building on that Olympic success to promote YVR as a premier North American gateway that contributes to the financial health of our community and country."
YVR's Asia-Pacific gateway strategy includes a goal to double international air service in the next five years, build connectivity by reducing connection times for passengers travelling through YVR en route to other destinations, and work with various levels of government and business partners to encourage traffic growth.
"That 2010 was an exciting and successful year for YVR is undeniable, but we do have challenges ahead as we strive to grow B.C.'s connectivity to the world and the economic benefits associated with air service links around the globe," said Larry Berg, President and CEO. "As new long-range aircraft extend carriers' reach into North America, competition is increasing amongst other airports vying for gateway status. It is therefore critical that we continue to do everything we can to maintain and grow our international routes."
Highlights of the Annual Report were also presented at the Annual Public Meeting and showcased the volume of passengers and cargo that moved through YVR in 2010. In total, 16.8 million passengers were served, with 255,000 take-offs and landings occurring on YVR's two parallel and one cross-wind runway; seaplane and helicopter movements bring that total up to 293,000. March 1, 2010 was the busiest day in YVR's history, with 37,000 passengers departing on the day after the Olympic closing ceremonies. Meanwhile, the Airport Authority's continued commitment to improving the YVR experience was recognized by passengers with a best-ever average customer satisfaction rating of 90 per cent.
The Annual Public Meeting also saw the departure of four members of the Vancouver Airport Authority's Board of Directors. Chair Mary Jordanacknowledged and thanked Graham Clarke, Rhys Eyton, Philip Owen and John Watson for their many years of service to the Airport Authority.