Executive Briefings

Channel Tunnel Fundamentally Changed UK Logistics, Report Says

More than a quarter of all goods traded between the UK and Europe, worth around £91.4bn ($113.82bn) a year, come through the Channel Tunnel, a report has found. In its report, "Economic Footprint of the Channel Tunnel Fixed Link," Ernst & Young found that 30 percent of UK exports, worth £43.6bn ($54.3bn), and 22 percent of imports, worth £47.8bn ($59.53bn), to and from the EU depend on the tunnel.

The report, commissioned by Groupe Eurotunnel to demonstrate the value the tunnel brings, said exports through it support an estimated 22,000 jobs in the UK.

In the 22 years since it has opened, the report said the tunnel has fundamentally changed UK logistics by enabling integrated manufacturing across the continent and opening up new markets.

It has particularly benefited sectors which rely on "just in time" production techniques, including the automotive industry, has enhanced express delivery for logistics companies and facilitated rapid transportation of essential fresh food products, the report said.

The tunnel also transports 21 million passengers a year and brings in tourism worth £1.7bn ($2.12bn) to the UK economy, which in turn supports a further 45,000 jobs. Its trains transport people on an estimated 840,000 business trips a year.

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The report, commissioned by Groupe Eurotunnel to demonstrate the value the tunnel brings, said exports through it support an estimated 22,000 jobs in the UK.

In the 22 years since it has opened, the report said the tunnel has fundamentally changed UK logistics by enabling integrated manufacturing across the continent and opening up new markets.

It has particularly benefited sectors which rely on "just in time" production techniques, including the automotive industry, has enhanced express delivery for logistics companies and facilitated rapid transportation of essential fresh food products, the report said.

The tunnel also transports 21 million passengers a year and brings in tourism worth £1.7bn ($2.12bn) to the UK economy, which in turn supports a further 45,000 jobs. Its trains transport people on an estimated 840,000 business trips a year.

Read Full Article