SE Lithuanian Airports: What Is Seen As The Result Of Our Operations Is Merely The Tip Of The Iceberg
What is the real impact of transport on Lithuanian economy: 86, 205 or 869 million euros? The role of aviation sector in the context of national economy is underestimated. Often only the assessment of direct impact is taken into account. Namely, the added value and jobs generated by airports, airlines and companies operating in airports is estimated. However, in the economy two plus two seldom equals four. Thus, straightforward ‘accounting’ often leads to misguided results.
‘If we wish to detect the real impact of airport operations on the economy, we must evaluate both, direct and indirect impact thereof. Even this, however, is merely the tip of the iceberg compared to the degree of the economic value gained by the state. One of the main values that we are striving to create is the increased accessibility of the country — so that we were visible and would attract more tourists. It is indeed a difficult and complex task since our communication options are limited”, said Gediminas Almantas, CEO at SE Lithuanian Airports.
In comparison to our closest neighbours Lithuania has a great potential in becoming a centre of air transport. Total impact of air transport sector on Lithuanian GDP is 2.5 percent, while in Latvia it reaches 3.3 percent. Clearly, Latvia is a winner in this competition.
According to Žygimantas Mauricas, senior economist at Nordea bank, the impact of air transport sector in Estonia barely reaches up to 2.2 percent of GDP; however, Estonia has a reasonable excuse – Finland. ‘Estonia is constantly visited by Finnish tourists (as much as 44 percent of Estonian income from tourism export services come from Finland), on the other hand, Tallinn airport can hardly compete with Helsinki, thus, Estonian air transport sector is forced, in a way, to stay in the shadow of Finland’‘, said Mr. Mauricas.
However, in the region Lithuania does not have any strong competition except Latvia with Riga airport which steers away our potential tourism income. It is no surprise that direct impact of tourism sector alone in Latvia reaches 3.1 percent, while in Lithuania — barely comes up to 1.9 percent of GDP. Therefore, if Lithuania wishes to fully benefit from the present tourism infrastructure, it has to be more like Riga, or better yet, Helsinki, and become a regional transport centre so that air transport impact on the economy overpasses its 2.5 percent and Latvian 3.3 percent and soars up to the level of Finland — 4.2 percent.
Source: Vilnius Airport
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