Yes, I'm good.
We are Canada's second-busiest airport; we are one of North America's fastest-growing international airports, in terms of both passengers and cargo. YVR plays a significant role as a connecting hub to Canada and North America, both from Asia-Pacific and Europe. In 2017, we welcomed a record 24.2 million passengers, which was an 8.4% increase over the previous year. Our terminal capacity is 25 million passengers; we expect to reach about 26 million this year and 29 million by 2020, so we are effectively at capacity.
A total of 56 airlines service YVR, connecting people and businesses to more than 127 non-stop destinations worldwide. We've been recognized as the best airport in North America by Skytrax's survey for nine years in a row, which is an all-time record. Our cargo business grew faster than our passenger count in 2017, and this includes high-demand B.C. perishables, including seafood and fruit. In 2017, we moved over 313,000 metric tonnes of cargo, accounting for over $2.7 billion in cargo exports. A significant share of our cargo is transiting to and from other parts of Canada and the U.S., primarily by truck. Consequently, surface transportation infrastructure and border capacity are critical, particularly for our perishables and just-in-time goods.
YVR is a key economic driver for B.C. and Canada, generating over 24,000 direct jobs at the airport, supporting over 100,000 jobs across B.C. and accounting for $16.5 billion in total economic output.
To address our rapid growth, we recently launched a $9.1-billion expansion plan. This includes 75 projects over the next 20 years. As you know, we receive no federal funding, and as a not-for-profit, the airport authority finances its expansion through debt, which is paid off from key revenue sources such as landing fees, retail and other commercial revenue, and airport improvement fees.
One of our other sources of funding is revenue generated by our innovative travel solutions team, which develops and markets automated border kiosks for both border entry and exit immigration. We sell these to airports, airlines, ports, and government agencies throughout North America and in other parts of the world.
Borders and security have a tremendous impact on our capacity and competitiveness. Because of this, Vancouver airport led the establishment of the binational Beyond Preclearance Coalition, aimed at further improving border and security processes through greater use of technology, which will both enhance security and move people and goods at speed. This coalition involves over 40 organizations engaged in transportation, trade, and tourism. All modes of transport are represented. We have ports, airports, airlines, rail, cruise lines, and trucking. Our coalition has raised about $450,000, has organized a number of forums, round tables and summits and has commissioned a “Beyond Pre-Clearance” white paper, which will be published in the first week of October, basically next week.
The white paper will include recommendations on long-term initiatives and public-private partnerships for technology investments as well as a number of short-term pilot projects. We expect that payoff in terms of improved border and security services and cost savings could be huge. If the recommendations of the white paper are adopted by our government partners, the Vancouver airport alone could save billions of dollars in planned capital investment.
I will be pleased to share the final white paper with the committee. It should assist you in your review of infrastructure funding priorities and strategy.
Thank you, again, for the opportunity to speak to you today. I would be pleased to answer any questions.