Economic importance of air transport and airport activities in Belgium – Report 2012

This study assesses the economic importance of air transport and airport activities in Belgium in terms of value added, employment and investment over the 2009-2012 period 1 . The sector considered embraces not only the activities directly connected with air transport, but also all the activities that take place on site at the six Belgian airports (Antwerp, Brussels, Charleroi, Kortrijk, Liege and Ostend). The study reviews the direct and indirect effects of the sector on the basis of microeconomic data (mainly obtained from the Central Balance Sheet Office) and macroeconomic data (from the National Accounts Institute). It also includes an analysis of the social balance sheet and certain ratios using Central Balance Sheet Office data. In 2012, air transport and airport activities generated € 5.6 billion in direct and indirect value added (i.e. 1.5 % of Belgian GDP) and employed 66,200 people in full-time equivalents (FTEs) either directly or indirectly (1.7 % of domestic employment). Brussels Airport is the country’s biggest airport in terms of passenger traffic, but has seen its leading position somewhat eroded by Charleroi, which with Ryanair has staged robust growth in the low-cost segment. Meanwhile, Liege has assumed the position of leading cargo airport and currently accounts for over half of total cargo traffic to and from Belgium. Charleroi and Liege are the fastest growing airports in terms of value added and employment. With the exception of Ostend, the Flemish regional airports have also proved resilient on both counts, while Brussels Airport may be described as holding more or less steady.

[1]  E. Dhyne,et al.  Outward foreign direct investment and domestic performance: In search of a causal link , 2014 .

[2]  H. Dewachter,et al.  Information in the Yield Curve: A Macro-Finance Approach , 2013 .

[3]  M. Lawless,et al.  Why Firms Avoid Cutting Wages: Survey Evidence from European Firms , 2013, SSRN Electronic Journal.

[4]  Kris Boudt,et al.  Regime Switches in the Volatility and Correlation of Financial Institutions , 2012 .

[5]  R. Vander Vennet,et al.  Bank/Sovereign Risk Spillovers in the European Debt Crisis , 2012 .

[6]  Eva Sierminska,et al.  The Distribution of Debt Across Euro Area Countries: The Role of Individual Characteristics, Institutions and Credit Conditions , 2013, SSRN Electronic Journal.

[7]  G. Peersman,et al.  Dissecting the Dynamics of the US Trade Balance in an Estimated Equilibrium Model , 2012 .

[8]  H. Dewachter,et al.  A Macro-Financial Analysis of the Euro Area Sovereign Bond Market , 2014 .

[9]  Marijn Verschelde,et al.  European Competitiveness: A Semi-Parametric Stochastic Metafrontier Analysis at the Firm Level , 2014 .

[10]  Marijn Verschelde,et al.  A constrained nonparametric regression analysis of factor-biased technical change and TFP growth at the firm level , 2014 .

[11]  (Not So) Easy Come, (Still) Easy Go? Footloose Multinationals Revisited , 2016 .

[12]  Frédéric Lagneaux,et al.  Economic Importance of Air Transport and Airport Activities in Belgium. NBB Working Papers. No. 158, 10 March 2009 , 2009 .

[13]  Øistein Røisland,et al.  Robustifying Optimal Monetary Policy Using Simple Rules as Cross-Checks , 2012 .