The Government and travel industry experts believe Gatwick expansion will cut the cost of holidays and boost flight routes.
An additional 100,000 flights per year will be able to serve the West Sussex airport if its emergency runway is brought into regular use.
It is hoped this will lead to more competition between airlines and airports, leading to lower prices.
On a visit to the airport on Monday, Chancellor Rachel Reeves said: “This extra runway at Gatwick will mean that people going on holiday will have a greater choice of destinations, it will mean lower costs for a family holiday.”
Julia Lo Bue-Said, chief executive of Advantage Travel Partnership, a network of independent travel agents, described the Government’s decision to approve the scheme is “a real win for the UK outbound travel sector”.
She said: “It will not only permit a greater volume of journeys each year but also allow the airport to broaden its flight route offerings, thereby enhancing international travel opportunities.
“It’s also good news for consumers, with increased competition and capacity likely to bring down the cost of flights from Gatwick.
“This expansion is a strategic investment in the UK’s economic future and in making global travel more accessible and affordable for everyone.”
