4 June 2014

Siemens report shows efficient public transport could save $800bn

Siemens have launched a new study that highlights how investments in efficient public transport systems could boost economic growth by up to US$800 billion.

The study assesses transport systems in 35 of the worlds major cities and reveals that an efficient public transport network can save US$238 billion annually by 2030.

The Mobility Opportunity study was conducted by London-based consulting firm Credo and outlines how the financial savings could reach up to US$800 billion annually if the study is extended to all comparably-sized cities globally with a population of 750,000 or higher.

Siemens commissioned the study which was presented on Monday alongside the World Cities Summit in Singapore.

The report compared the 35 cities in three categories - well-established cities, high density compact cities and emerging cities – and concludes that the most cost-efficient cities are Copenhagen in Denmark, Singapore and Santiago in Chile respectively.

Singapore was cited in the report as having the leading transportation networks of any high-density city in the world and should be an example to other similar compact municipalities.

Singapore’s capacity to meet the demand of increasing urbanisation was credited in the study as a crucial achievement.

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