The Charlottetown Airport Authority (CAA) released today findings from an Economic Impact Study they commissioned for 2018. The study concluded that the Charlottetown Airport and Airport Business Park continue to be a major economic engine for Prince Edward Island.
In 2018, the airport contributed over $103 million to PEI’s gross output with 788 full-time equivalent jobs. The study also found that the airport added $62 million to the Island’sgross domestic product (GDP) and generated $41.7 million to wages and salaries.
“We are proud to say the Charlottetown Airport continues to significantly contribute to employment and drive economic growth in PEI,” says Doug Newson, CEO of the Charlottetown Airport Authority. “We believe the airport is a key transportation link for business, residents and visitors and is essential to the Island’s future advancement and prosperity.”
The study also looked at the airport’s passenger growth, which has increased by 25% over the last five years. In 2018, the airport saw 370,730 passengers with the majority of traffic (51%) occurring during the busy tourism months of June to September. An exit survey released by the province in 2015 found that tourists entering PEI via the airport stay longer and spend more money, on average, than those arriving by other modes of transportation. The average tourist arriving by air stayed 7.5 days vs. 4.73 days for other modes. Visitors arriving by air spend significantly more as well, $2,148 per party vs. $1,214 per party.
About the Economic Impact Study
The Economic Impact Study was completed by Chris Lowe Group and assessed the impact of the airport and airport business park on PEI during 2018. The study looked at several measures including economic output, gross domestic product (GDP), labour income and full-time equivalent jobs.