Christchurch, Dorset - Economy

Economy

Between 2000 and 2007 the total Gross Value Added (GVA) of the borough grew by 37% from £552 million to £757 million. The biggest contributor to the local economy through the period 2000–2007 was the transport and communication sector which in 2007 brought in £145 million GVA; £64 million more than in 2000. The sector which saw the largest growth during that period however, was metals and engineering which increased by 140%. The food, textiles and wood industries experienced the largest negative change at -42% whereas the electronics industry experienced the biggest fall with £16.2 million less than seven years previous.

An aircraft manufacturing industry was established in the town with the construction of an Airspeed factory at Christchurch Airfield in 1942. In 1948 the factory became part of de Havilland and manufactured a wide range of aircraft such as the Vampire, Sea Venom and Sea Vixen. In the 1950s, Bournemouth Airport, a former RAF base situated on the outskirts of borough boundaries at Hurn, also became heavily involved in aircraft production after Vickers Armstrong—which later became the British Aircraft Corporation (BAC)—established a factory at the airport.

Although the de Havilland factory closed down in 1962 and aircraft manufacturing at Bournemouth Airport ceased by the late 1970s, the aircraft and engineering industries remained important to the local economy. The BAC works at Bournemouth Airport were converted into a 80-hectare (200-acre) industrial estate which has become one of the largest employment sites in the county with over 140 businesses and a working population of some 2,000 people. The town has a number of smaller trading estates including: Airfield Way Industrial Estate, Sea Vixen Trading Estate, Silver Business Park, Hughes Business Park, Priory Park and Somerford Road, all situated on the old Christchurch Airfield; Fairmile/Avon Trading Park, once the old railway yard; and Groveley Road and Stony Lane.

Bournemouth Airport is among the busiest international airports in the country and is an important economic generator for the region. Owned and operated by Manchester Airports Group, the airport handles 800,000 passengers annually and supports around 900 full-time equivalent jobs which contribute more than £24 million to the local economy. Between 2007 and 2010 the airport underwent a £45 million upgrade which included the construction of a new departure terminal. Other major employers in Christchurch include: BAE Systems, Bournemouth Aviation Services Company (BASCO), Beagle Aerospace, Bournemouth International Airport Ltd, Channel Express, College of Air Traffic Control, Data Track Process Instruments, European Aviation, FR Aviation, Honeywell, Revvo Castor Company, Sainsbury's, Siemens VAI and SELEX Communications.

The town's High Street contains 48 shops with 61,847 square feet (5,745.8 m2) of retail space. The addition of the Saxon Square shopping precinct in 1982 added a further 41,748 square feet (3,878.5 m2) of shop floor to the town centre—an increase of 67.5%. The combined number of shops and floor space makes Christchurch the fifth largest shopping centre in Dorset.

Christchurch attracts some 837,000 staying visitors and 792,000 day visitors each year and tourism generates £76,000,000 for the local economy. Although important to the local economy with spending generating over £53,000,000 GVA, Christchurch is not so heavily dependant on tourism as some of its neighbours. Tourism's contribution to the local economy is about 9% compared to 18% for Weymouth and Portland, 15% for Purbeck and 12% for Bournemouth. Visitor accommodation consists of 11 caravan and camping parks and some 900 bed spaces in eight hotels and 75 guest houses and bed and breakfast establishments.