Economic benefits of park and ride
place - australasia, mode - park and ride, mode - bus, mode - car, economics - appraisal/evaluation, economics - operating costs, economics - fare revenue, economics - value of time, economics - benefits
appraisal, New Zealand, park and ride (P&R), public transport (PT)
This research report investigated the economic and financial benefits from providing expanded park and ride (P&R) facilities. The project objectives were to assist decision-makers by providing guidance on: • the rationale for investment in P&R, as a cost-effective and efficient means of improving state highway and local arterial road performance and/or reducing public transport subsidies • methods for the economic and financial appraisal of P&R investments • the process and necessary conditions for optimal P&R investment decisions to be made.’ The research included a review of international literature and New Zealand practice on quantification, assessment and evaluation methodologies for P&R facilities. The outcome of the research was an economic and financial evaluation framework adopting a cost-benefit analysis methodology. This framework was tested by applying it to five case studies covering both Auckland and Wellington for potential expansion of existing rail and bus-based P&R sites. The case studies demonstrated that increasing P&R provision produced high returns relative to most other types of investment schemes that encourage modal shift to PT in major urban areas, with estimated benefit-cost ratios in the range of 2 to 4.
Permission to publish the abstract has been given by NZ Transport Agency, copyright remains with them.
Wallis, I., Ballantyne, J., Lawrence, A., & Lupton, D. (2014). Economic benefits of park and ride. NZ Transport Agency research report 562, pp. 201.