Photo by Florian Schneider on Unsplash
There’s been much controversy surrounding the expansion of Heathrow airport. Located in the middle of a suburban area, the third runway plan is said to destroy a lot of the residential area, leaving some panicking to find another place to relocate to. Now, with a potential fourth runway in the Heathrow plans, discussion over the idea is at a boiling point.
However, while residents might struggle to secure their homes for the foreseeable future (or simply live quietly without airplanes soaring over their street), runway expansion has numerous benefits for the economy and business. We explore some of these perks below.
Airport Tax
The thought of building an extra runway seems like a costly money leach. It’s a great deal to plan and execute, and each stage is wrapped up with a hefty bill. As Heathrow gets bigger, so does the expense. Nevertheless, the expansion would bring a great deal of money into the nation; money that it sorely needs too.
It’s a simple formula; more planes equal more taxation. This means the government gets more money, which can in turn be distributed toward nationwide services like schools, policing and the NHS. From this standpoint, airport expansion is viable, bringing in more money and more investment in areas Britain crucially needs to address.
Overnight Spending
On the passenger side, the dread of flight delays is never dying. Terminals are also rammed with people, queues are extensive, and it’s not uncommon for passengers to find themselves staying overnight in the place they planned to leave. It’s certainly a drag for them, as they are temporarily stuck in one place.
On the other hand, this is also good for the economy. Passengers with a long wait can spend an extra night in London, which can lend some extra money to the economy. Another runway means more planes, means more passengers, means more spending, which means nearby and smaller businesses get more business. It’s really that simple!
The Corporate World
The most successful businesses branch out across the globe, trading with companies far and wide. For example, Forex Trading with ADSS enables the trade of multiple currencies and allows firms to keep tabs on the largest financial market in the world. While it’s handy to see all the global currencies trade, sometimes actually being overseas in person helps too.
Therefore, a fourth runway at Heathrow is in the best interests of global businesses who want to establish connections overseas. This can bolster the relationships between corporations, and even nations should any collaborations get big. Ultimately, airports and their runways are hubs of connectivity, and create global opportunities for corporations in the long term.
