The results are in: Lyft delivers big benefits for local economies. But is it possible to understand the cost of not having ridesharing? We asked the experts at Land Econ Group, and it turns out you can.
In December of last year, we released our 2016 Economic Impact Report, which surveyed over 50,000 people across the country to showcase how Lyft improves our cities. Top highlights from the report include: $1.5 billion earned by drivers, $750 million in additional spending for local small businesses, and 26 million travel hours saved compared to alternative modes of transportation.
To better understand the lost economic benefits in cities where Lyft is not available, the Land Econ Group was able to leverage previously collected data to estimate its potential impact in six cities across New York, Texas, and Missouri.
The findings are substantial and demonstrate a missed opportunity for cities to earn more, waste less, and increase efficiency. We can’t wait to bring Lyft — and these benefits — to all cities in the near future.