On December 18, 2018 YVR served its 25-millionth annual passenger, two years ahead of forecast.
This accelerated growth can be attributed to a strong B.C. economy and an impressive three years of air service development due to ConnectYVR—YVR’s five-year aeronautical rates and charges program.
ConnectYVR rewards airlines for growing their services at YVR, which creates more jobs, increases access to global destinations and opens additional markets for B.C.’s goods.
YVR is operated by Vancouver Airport Authority, a financially-independent organization that is governed by a non-political Board of Directors appointed from the community. Its unique operating model allows for greater support and investment in the community, with every dollar earned by the Airport Authority being reinvested into the operation and growth of the airport to improve facilities, enhance services, reduce costs and support community initiatives.
YVR plays a significant role in the local, provincial and national economy—creating jobs and driving business activity.
The airport supports 24,000 jobs on Sea Island and more than 100,000 jobs across the province. Its operations—together with tourism and cargo—contribute more than $16-billion in total economic output, $8.4-billion in GDP and $1.4-billion in government revenue across B.C.
Growth projections show that YVR will serve 32-million passengers by 2022, with 29-million passengers targeted for 2020.
YVR has also updated its targets to facilitate the movement of 327,000 tonnes of cargo and serve 144 destinations by 2020—currently YVR connects people and businesses to 127 non-stop destinations worldwide. Each new flight through YVR creates hundreds of jobs and contributes millions of dollars in economic benefit to the province.
To accommodate this continued growth, YVR embarked on an ambitious 20-year, $9.1-billion expansion program in early 2018. These expansion projects have additional significant economic and employment benefits in the region. For example, construction activities at YVR created nearly 2,500 full-time construction jobs on Sea Island in 2018, hundreds more off-site and are expected to sustain thousands of jobs for the next two decades.