London Gatwick contributed £5.5 billion to UK economy in 2023, according to research

Airport supports 76,000 jobs – with residents in the local area benefitting most.

London Gatwick generated £5.5 billion for the UK economy and supported over 76,000 jobs in 2023 –levels close to those pre-pandemic¹, according to new research by leading economists Oxera.

The majority of this vital economic activity ² took place in six local authority areas across the South East – West Sussex, East Sussex, Surrey, Kent, Brighton and Hove and Croydon, as below. 

Encouraging more investment into London Gatwick Airport’s catchment

The new data has been published as a landmark delegation from the region prepares to attend UKREiiF – the UK’s leading event to attract investment into UK regions. London Gatwick is co-funding the delegation to ensure the region is represented – for the first time ever – and has the opportunity to connect with over 10,000 investment decision makers from across the globe.

Spearheaded by London Gatwick, the delegation will be facilitated in partnership with Gatwick Diamond Initiative and branded under Invest Gatwick Diamond.  It brings together a coalition of county councils, local authorities and private sector affiliates from across Sussex, Surrey, Kent, and South London. ³

CREDIT: Gatwick Regional Economy Summary 2023 from London Gatwick on Vimeo.

As part of the region’s representation, Alison Addy, London Gatwick Airport’s Head of External Engagement and Policy, will take part in a panel discussion looking at how successful airport economic zones (AEZs) across the world define, organise, and promote themselves.

AEZs are established by airports collaborating with the surrounding region so they are better able to identify, organise and promote themselves to attract inward investment, benefitting airports, communities and their regional economies. London Gatwick is exploring with partners how an AEZ might be established around the airport.

London Gatwick’s response

Tim Norwood, Chief Planning and Corporate Affairs Director, London Gatwick, said: “These figures show how well our recovery is going.  It’s important however to remember they’re not just big numbers.  They represent the livelihoods and incomes of tens of thousands of individuals, families and businesses across the region.

“Together, the South East has a lot to offer investors from across the globe, but we cannot take our future economic growth for granted.  Global competition for investment is fierce and I’m delighted we’re working with our partners to attract new business opportunities, trade and jobs into the region.”

Brett North, Chairman of the Gatwick Diamond Initiative comments: “We are home to a vibrant economic region, with Gatwick Airport at its heart. Ideally located for London and the rest of the world, we are proud to represent our region for the first time at UKREiiF. We welcome the opportunity to showcase the best of the Gatwick Diamond, particularly for investors in locations where Gatwick has worked with the business community to establish strong routes.” 

Read the full local economic impact of London Gatwick report.

¹ In 2019, London Gatwick supported £6.1 billion GVA and 85,000 jobs.

² This is a combination of direct, indirect, induced and catalytic effects. A full explanation of these effects can be found in Gatwick’s 2023 annual economic analysis.

³ Includes Invest Crawley (led by Crawley Borough Council), East Surrey (led by Reigate & Banstead Borough Council), Develop Croydon Forum, Croydon Council, Invest West Kent (representing Sevenoaks, Tunbridge Wells and Tonbridge & Malling local authorities), Horsham District Council and private sector partners including SHW, Birketts and Horley-based business Oander (Quantity Surveying & Project Management Consultancy | Oander Ltd.).