The economic benefits of park and ride
NZTA Research Report 562: Economic and other benefits to the state highway and arterial road network of Park and Ride
This research study, conducted by TDG in conjunction with Ian Wallis Associates, investigated the economic and financial benefits from providing expanded park and ride facilities. The project objectives were to assist decision-makers by providing guidance on:
- the rationale for investment in park and ride, 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 park and ride investments; and
- the process and necessary conditions for optimal park and ride investment decisions to be made.
The research included a review of international literature and New Zealand practice on quantification, assessment and evaluation methodologies for park and ride 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 in Auckland and Wellington for potential expansion of existing rail and bus-based park and ride sites. The case studies demonstrated that increasing park and ride 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.
See the link below for the full research report: