Etihad, partners to pump $10.7 billion into U.S. economy
Staff Writer |
Etihad Aviation Group (EAG) and its equity partner airlines will support 108,000 jobs across the U.S. in 2016 and make a $10.7 billion contribution to the national economy this year.
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The Abu Dhabi-based global aviation and travel group has key interests in the US, operating to six gateway cities across the country. Its economic contribution includes capital spending with U.S.-based suppliers that supports tens of thousands of domestic jobs, said the report.
According to the report by Oxford Economics, a UK-based research organisation, in 2016 EAG’s core economic contribution to the U.S. economy will be $3.8 billion in gross domestic product (GDP), supporting 30,300 jobs.
This consists of the US impact from EAG’s global operations and its capital spending with US-based suppliers, largely due to Etihad Airways’ capital investment in new aircraft, cabin interiors and IT infrastructure.
This employment translates to domestic spending, delivering $2.9 billion to the country’s GDP.
In addition, spending by the 280,000 international visitors carried into the U.S. on Etihad Airways’ flights during 2016 will also leave a considerable economic footprint. This is estimated to contribute $1.9 billion in GDP, supporting around 22,400 American jobs, it said.
The US economy is further boosted by the impact of the operations and services of EAG’s equity partner airlines.
Together, they will deliver $1.6 billion to the GDP, with a further $3.4 billion tourism contribution. In turn, they will support 13,700 jobs through their core operation, with a further 41,100 jobs supported through the tourism industry.
The economic impact of EAG and its equity partner airlines goes far beyond core and tourism contributions.
By connecting people and businesses across the world, Etihad Airways and its partners facilitate a wide range of economic activity in both the U.S. and global economy.
This "knock-on" catalytic effect will boost US productivity by $1.1 billion in 2016 by enabling business interaction, facilitating foreign investment, and encouraging tourism and trade. ■