The completion of the so-called 'third package' in the liberalization of Eu
ropean aviation has changed the environment in which airports operate consi
derably. The continued growth of air traffic has led to a public debate in
many Western countries about the expansion of airport capacity in the light
of the externalities emanating from these traffic nodes. In this paper we
try to measure the economic impact of Amsterdam Schiphol Airport on the Gre
ater Amsterdam region, by means of a social accounting matrix of this regio
n. The paper tries to avoid some of the pitfalls of earlier studies by usin
g a counterfactual approach in measuring the economic impact. We are able t
o distinguish employment created in sub-regions of the Greater Amsterdam re
gion, and the education and qualification levels associated with this emplo
yment. Our results indicate that the total multiplier of direct employment
on Amsterdam Schiphol Airport is approximately 2: one job on the airport le
ads to approximately one job in indirect and induced employment.