Transport as catalyst for economic recovery
Coronavirus has caused worst economic downturn and it is economic impact is yet to be seen in terms of jobs losses. Since many countries have imposed lockdown to contain the spread of virus, transport is standstill. This blog highlights how transport infrastructure and public transport are indispensable for economic growth and well-being of citizens. This blog also shows how transport can reinvigorate economic growth.
- Focus on road infrastructure
Building new roads to reduce traffic congestion or connecting city to new corridor opens up plethora of opportunities for transport agency to create more jobs and spur economic activities. By laying new roads, public agencies can connect their city with new corridor thus enabling
a) Freight movements
b) Connecting people with new locations / tourist locations
c) Enabling people to explore - Job creation in knowledge economy
Transport agencies around the world generate humongous amount of data ranging from public transport schedules (timetables), real-time public transit information, road traffic alerts, traffic flow and traffic volume. There is an immense economic potential that can be unlocked from those high-quality datasets.
Releasing transport timetables along with real-time traffic alerts and travel information leads to enhancing customer experience. This aids to greater quality of life thus making a vibrant city. Releasing of more transport dataset will create more job opportunities for startups and local businesses thus stimulating economic growth
The below benefit map shows the clear interaction of public agencies activities and how it provide long term benefits to its citizens
3. Stimulate local businesses growth
Reviving local businesses shall be the top priority of many public agencies across the globe. Local businesses crave for foot traffic to boost their sales. Transport agencies are in good position to provide foot traffic to these local businesses.
Public agencies can run a special (may be free) services to these local businesses corridor thus local businesses get foot traffic. Public agencies can also release real-time anonymised public transport patronage for each stops / major stops. These real-time information may include
a) patronage numbers
b) historic patronage numbers for that stop
c) grouped age profiles of those passengers
d) Passenger type (student, adult, pensioner)
e) Origin — Destination map for that stop
An app developer can built an app for local businesses utilising aforementioned real-time data to predict how many customers may be walking past their shops thus targeting customers with good offers. This would stimulate the local businesses.
4. Public transport
Providing clean and hygienic public transport services provide greater confidence for people to take public transport after COVID-19. Even providing information on timing schedule boost people’s confidence in taking public transport.
