Study: Bizav Nearly €100 Billion Industry in Europe

The business aviation industry in Europe accounts for 371,000 jobs, produces €98 billion in economic output and contributes about 0.2 percent to the gross domestic product, according to a recent Booz Allen Hamilton study. The research firm conducted the study at the behest of the European Business Aviation Association, which is hoping to educate politicians and regulators on the scope of the industry and its impact on the economy.

Conducted in collaboration with Deutsches Zentrum für Luft-und Raumfahrt (DLR), the study notes business aviation is a “prime enabler for regional economic development” and adds, “There are many benefits of business aviation, from economic benefits of well-connected global companies to air ambulances saving lives in remote areas.”

In addition to quantifying the number of jobs and output, the study quantified €27 billion in gross value added and €21 billion spent in wages and salaries. The study found that nearly two-thirds of the gross value added stems from activities in Germany, France and the UK.

The study also determines that the average time saved using a business aviation flight compared with a commercial flight is 127 minutes per trip. In addition, work productivity is 155 minutes higher per trip.