The joint venture formed by Analistas Financieros Internacionales, AFI Consultores de las Administraciones Públicas and Prometia will oversee analysing the contribution of the ports of Valencia, Sagunto and Gandia to the generation of wealth and employment.
The port areas of Valencia, Sagunto and Gandia generated 2,500 million euros of added value and 39,000 jobs according to the latest report with data from 2016.
The activity of the ports managed by the APV made it possible to distribute 1,243 million euros a year in salaries.
The public coffers received 181 million euros in 2016 for the activities linked to Valenciaport.
The Port Authority of Valencia (PAV) has awarded the joint venture formed by Analistas Financieros Internacionales, AFI Consultores de las Administraciones Públicas and Prometia the preparation of Economic Impact Studies of the ports of Valencia, Sagunto and Gandia in order to ascertain the impact of port activity on the generation of wealth and employment in the Valencia Region.
For this new study, the traffic of goods in the three ports and the movement of passengers on regular lines and cruise passengers for the Port of València will be considered. To this end, the operations of the port community for the 2018, 2019 and 2020 financial years will be taken as a basis to ascertain the current impact of the ports managed by the APV. The last report of these characteristics was carried out with data from 2016, when Valenciaport managed 4.72 million TEUs (standard 20-foot container) and 71.2 million tonnes of goods moved, while in 2020, this figure was 5.42 million containers and 81 million tonnes of goods operated on the quays of the port precincts, in a year that was marked by the crisis due to COVID-19.
Valenciaport is acting as a driving force for the economic activity of its hinterland, which represents 55% of Spain’s GDP, and is acting as a platform for the export/import of 40% of the productive fabric, a key element for recovering the dynamism of the Spanish economy, which is reflected in the sustained growth of Valenciaport in recent years.
A driving force and engine of the economy
According to data from the latest Economic Impact Study of Valenciaport presented in 2018 and prepared by the Department of Economics and Social Sciences of the Universitat Politècnica de València with data from 2016, Valenciaport contributed to the Valencian economy and its area of influence a gross added value of 2,500 million euros, 2.39% of the total GDP of the Comunitat Valenciana.
In terms of employment, the report presented in 2018 states that companies related to Valenciaport generated 38,866 jobs, a figure that represented 2.09% of the total number of jobs in the Valencian Community. These figures show the importance of Valenciaport as a generator of employment and wealth in the surrounding area. In this sense, the activity of the port facilities made it possible to distribute 1,243 million euros a year in salaries. More than 400 million of this income was generated by the initial effect of the Port, but more than double this amount (two out of every three salaries) originated from the direct, indirect and induced effects of Valenciaport. Overall, Valenciaport was the origin of 2.62% of the total wage bill in the Valencia Region. However, it created 2.09% of Valencian employment, which indicates that the salaries paid from Valenciaport’s activity are above the average for the Comunitat.
In terms of tax revenue, the study points out that the public coffers received 181 million euros in 2016 from the activities linked to Valenciaport.