For Every €1 in Rail, €2.7 for Europe: New Study Reveals Rail’s Massive Economic Impact

A new Oxford Economics study shows Europe’s railways are not just green but an economic engine. With €247 billion added to the EU economy and over 3 million jobs supported, rail is proving vital to Europe’s competitiveness and recovery.

A new study prepared by Oxford Economics confirms the strong economic impact of the European railway sector. Using 2023 data, the study commissioned by the Community of European Railway and Infrastructure Companies (CER) shows that rail combines above-average productivity with resilience and innovation, playing a central role in Europe’s post-COVID-19 recovery and future growth. With a total contribution of €247 billion to the EU economy and supporting 3.1 million jobs, railways offer one of the largest economic footprints of any transport mode while preserving the lowest carbon footprint.

New Study | The economic footprint of railway transport in Europe ⬇️

A new study conducted by @OxfordEconomics "The Economic Footprint of Railway Transport in Europe" confirms the strong economic impact of the European railway sector.

(1/2) pic.twitter.com/ZIXaLFEU9n

— CER🚆 #OnTrackForEurope (@CER_railways) September 26, 2025

According to Oxford Economics, economic impact is measured in terms of gross value added (GVA) and employment:

• As a sector, railway transport contributed a GVA of €67 billion to the EU27’s GDP in 2023. On top of this direct effect, its supply chain generated €117 billion, while employee consumption added €63 billion, reaching a total of €247 billion, equivalent to 1.4% of EU27 GDP — exceeding Greece’s 2023 GDP of EUR 225 billion.

• On the employment side, railway transport supports around 3,162,000 jobs, or 1.6% of EU27 employment, surpassing Ireland’s total workforce in 2023. For every EUR 1 of GVA generated directly by rail, €2.7 is stimulated in other sectors of the European economy. For every rail employee, another 2.6 jobs are supported across supply chains.

European railway transport also delivers wider benefits beyond its short-term economic impacts. It supports business services, R&D, wholesale trade, machinery, and construction, and remains crucial for defence mobility across Europe. The report points out that, despite the pandemic, the sector has rebounded strongly. Over the last decade, European rail transport has increased productivity by 9.4%, boosting efficiency and growth across industries.

With 8 billion passenger trips and 378 billion tonne-kilometres of freight carried each year over 201,000 kilometres of track, rail is at the heart of Europe’s transport system. It also drives the green transition, thanks to high energy efficiency and near-zero emissions. Still, its modal share in passenger and freight traffic remains stagnant, calling for stable investment and supportive policy.

CER Executive Director Alberto Mazzola said: "For many people, railways have come to represent the green transport mode of choice that Europe should invest in. The figures revealed by Oxford Economics show that beyond sustainability, the rail sector is an economic powerhouse boosting EU competitiveness, jobs and growth. As the EU prepares its next long-term budget and high-speed rail plan, these findings highlight the true value of railways — and the cost of failing to shift more transport to rail."

Source: CER Press Release