It’s not how much it makes for the UK economy but where it is, argues Clarendon Serviced Apartments. London City Airport is a vital connection for the world’s businesses.
In a city the size of London it is of vital importance that travel infrastructure, its effect on the environment as well as society, and travellers, is regularly made. With a population of over 1 million, as well as being an international business hub with both leisure and business tourists flying in and out of its four major airports it is obvious that regular reflections of how congestion can be eased or the impact on the local environment reduced thanks to all that air, road and rail travel are made. Yet despite the fact that compelling reasons are often given for the closure of London City Airport in fact it could spell disaster for London’s business community. In figures for 2013 to back up its closure, the Civil Aviation Authority revealed only 2.4% of London’s 139.7 million air passengers used City Airport. This does not, campaigners say, make the social and environmental cost for nearby residents worthwhile.
Yet the argument against doesn’t always show the full picture;
1. London City Airport adds £750m a year to the UK economy. A huge plus is the £71m in added productivity to the business travellers using it as a thoroughfare. City Airport is close to Canary Wharf therefore it reduces journey times enabling business travellers to be more productive. Heathrow is 24 miles away (and over an hour by car) while Stansted is over an hour and 33 miles away. City Airport is just 4.5 miles away from Canary Wharf and 20 minutes by car.
2. One of the concerns raised about City Airport is that it could inhibit growth and regeneration within East London. In fact the opposite has been true with growth in the area developing around the airport and it becoming a magnet for investment.
3. Even though the UK isn’t in the Eurozone, ties with those countries that are vital for The City. There are major changes in the Eurozone and the European Central Bank is a major and powerful force. Better connectivity is needed between London, Paris and Frankfurt. City Airport fuels this need with eight flights a day to Frankfurt, 10 to Paris and two to New York. For The City to continue to be a major financial global hub it needs this connection.
4. One of the Chinese developers behind the Asian Business Park has reflected on why they chose to base their development at Royal Albert Dock. The spokesman said it was City Airport which was vital for their commercial customers. The location of City Airport makes commercial travel more viable, production and easier.
Clarendon serviced apartments has had property within London for 25 years and our accommodation at Canary Wharf is an important part of our portfolio. London City Airport is a vital ingredient for growth in East London as well as Canary Wharf itself. For business travellers who come in to Canary Wharf knowing the airport is there offers peace of mind as they are just 20 minutes away from major international destinations. As a company that has invested in the area for a generation, we definitely see it’s potential.