REIsearch NEWS

16/01/2019

Why It's So Important That We Get Mobility Right

We’re living in a world that is growing more populous, denser, more technological and more urban. According to the U.N., 30 percent of the world’s population was urban in 1950, a number that is expected to grow to 68 percent by 2050. Most of that growth will occur in cities.

This massive population boom and shift has monumental ramifications on the global economy, as cities are the engines of economic growth. Today, the world’s 750 biggest cities today account for roughly 60 percent of gross domestic product. By 2030 those same 750 cities are expected to 61 percent of global GDP (US $80 trillion) to the world economy according to Oxford Economics. Cities can only survive if they can figure out the efficient and sustainable movement of people and goods. That’s why many experts, like those at PWC, are forecasting the market for shared, on-demand vehicles will be a $1.4 trillion industry by 2030. It’s not hard to see why. Already, Didi ride hailing serves more than a half-billion riders across 400 cities. The transit data app, Moovit, is used by 150 million travelers in 2,200 cities. And there are now an estimated 18.2 million bikeshare bikes across 1,600 programs globally. Forbes says what’s happening in cities around the world is that the very notion of mass transit is shifting. For years, mass transit has been equated with publictransit, meaning that the movement of large amounts of people was purely the realm of the public sector. When you think about the hundreds of millions of people being moved by ride hailing, bike sharing, private transit and ridesharing, you can no longer make the case. We’re looking at integrated transit, where both sectors bring strengths and capabilities to the table.

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