The San Francisco International Airport (SFO) released its 2019 economic impact study, detailing the significant benefit that the Airport has on economies around the San Francisco Bay Area. The report, which summarizes economic impact for the 2017-2018 Fiscal Year, included the following highlights:
- SFO directly accounted for over $10.6 billion in business revenues, which supported more than 46,000 jobs at the Airport. This represents a significant increase over the previous report, which covered the 2016-2017 Fiscal Year and reported $8.4 billion in business activity and 43,000 direct jobs.
- Visitor spending resulting from air service at SFO contributed over $12.5 billion in additional business revenue and 113,253 jobs in the region, up from previous figures of $10.5 billion and 96,121 jobs respectively in the last study.
- The indirect and direct spin-off activities associated with suppliers of goods and services to directly affected businesses and the re-spending of additional worker income on consumer goods and services raises the total regional economic impact to over $72.7 billion in business sales, including $25.8 billion in labor income and over 330,000 jobs.
“This latest report highlights the significant role that SFO plays in the economic health of our region,” said Airport Director Ivar C. Satero. “It also shows that our ongoing capital investments ultimately benefit local economies, powering job creation, labor income, and business revenues.”
To view the full 2019 economic impact study, please visit https://www.flysfo.com/airport-economic-impact.
