The Minister of Transport, Maritime Affairs and Communication Ahmet Arslan indicated in his visit to Istanbul New Airport construction site that the project will provide employment to 225 thousand people in 2025 while contributing to the national economy with a percentage of 4,9% of GNP.
The Minister of Transport, Maritime Affairs and Communication Ahmet Arslan visited the project site of Istanbul New Airport in order to observe latest developments on the site. After getting a briefing on the project's current status, Minister Arslan informed the press on the future long term contribution of the new airport to the Turkish economy.
Istanbul New Airport Economic Impact Report prepared by the consultancy institution Istanbul Ekonomi and independent think tank EDAM (Economy and Foreign Policy Research Center), underlined the significant direct and indirect contribution of the new airport project to the Turkish economy.
The analyses based on optimistic and pessimistic future scenarios estimate that the project will provide direct and indirect employment to 225 thousand people by 2015. The airport will also increase household income level to 4,4 billion dollars while providing 4,9% share of GNP to Turkey's national economy.
National Income will approach 73 billion TRY in 2015
The global growth scenario that includes direct and indirect triggers mentioned in the report concludes that the new airport's contribution to the economy in 2015 will approach 73 billion TRY which is equivalent to 4,9% of GNP. The additional household income that will be generated by this ecosystem is estimated to reach 7,8 billion TRY.
In his statement regarding the airport which is at 40% completion level, the Minister of Transportation, Maritime Affairs and Communication Ahmet Arslan said: “the New Istanbul Airport has the potential of becoming one of the drivers or even the symbol of Turkey's future 50 year growth story. Scientific studies and reports also support this opinion. Our airport will provide employment to 225 thousand people in 2025 while contributing to our national economy at a level of 4,9% of GNP. This rate surpasses by far the Schipol and Charles de Gaulle airports that have the highest levels of contribution to their countries' national income. The New Istanbul Airport will also undoubtedly contribute to Turkey's geographical quality as a bridge and a hub by connecting Turkey to the world and vice-versa.”
CEO of İGA Airport Operation Hüseyin Keskin stated; “Many analyses based on different scenarios have been prepared by EDAM. Even in the worst case scenario, our new airport's contribution to our country's economy is undeniable. The economic report also showcases that Istanbul New Airport has the potential to become the catalyzer for Turkey's global competition strength. Considering that international aviation constitutes 3,4% of the GNP, Istanbul New Airport's 4,9% contribution will radically change Turkey's position in the global economy.”
An annual passenger capacity of 120 million in 2025
he report that takes into account the impact of the new airport holistically including its macro and micro economic and socio-cultural contribution, its geopolitical and foreign politics dimension indicates that it may even exceed expectations. The report also states that if the aviation sector's dynamic growth in Turkey moves in a sustainable level in line with global competition, the level of airport traffic that begins or ends in Turkey will grow at an annual rate of 5,2% until 2025. The same estimation is also valid for global and domestic airline and cargo services. For the New Istanbul Airport, the expected annual passenger traffic is at 120 million with 69% expected international passengers and 31% domestic.
Tourism income will also rise
The report also states that the boosting economic impact of Istanbul New Airport will focus largely on the tourism and construction sectors.
The airport will have a passenger capacity of 90 million after the completion of the first phase. Considering that the per capita spending is higher than 700 USD in the tourism sector, even if only 10% of the passengers visit the country as a tourist, the financial contribution is expected to be around 7 billion dollars.