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Next in Flight Case Study Submitted for the Regional Transportation Authority’s Air Service Advancement Project (ASAP)

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Presentation on theme: "Next in Flight Case Study Submitted for the Regional Transportation Authority’s Air Service Advancement Project (ASAP)"— Presentation transcript:

1 Next in Flight Case Study Submitted for the Regional Transportation Authority’s Air Service Advancement Project (ASAP)

2 Air Service Advancement Project The Air Service Advancement Project (ASAP) is a three-year initiative to mobilize, highlight, and focus business support to strengthen nonstop international air service from Raleigh-Durham International Airport to Europe, Asia, the Middle East, and the Americas. The project will create a $500,000 regional investment fund that will supplement the RDU Airport Authority’s $500,000 commitment to recruiting and marketing international air service.

3 Summary Each additional transatlantic flight will generate $25 million in annual net regional economic spending. Over a 25 year period each flight will increase the region’s gross domestic product $1.4 billion

4 Potential Economic Impact $25 million in direct overall spending in the service’s first year Operational spending could be over $174 million at the 25 year mark The service could support 600 direct employees at its peak And the additional service could help travelers realize $50-100 million in annual travel savings

5 Examples Denver Flight From Total Annual Economic Impact Indirect Economic Impact (Off Airport) Direct Economic Impact (On Airport) Induced Economic Impact Asia$142,425,029$72,693,082$8,692,649$61,039,298 Europe$90,577,704$45,112,572$6,646,116$38,819,016 Mexico$25,732,652$11,665,946$3,038,427$11,028,280

6 Examples Austin ▫It is only the second airport in the US to be a non-hub serving London (the other being RDU). ▫Local business has committed to support the service [$5 million commitment] and the data has shown that in the past year it has helped the airport experience significant growth [roughly 7%].

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