The 2018 Economic Impact Report released today by Lyft highlights that the Phoenix economy saw an additional $59M in 2017 thanks to the growing accessibility of Lyft rides. Coming off a breakout 2017 for the company in which it expanded operations to 95% of the US population (from 54% at the beginning of the year), the report showcases how the ride-sharing company impacts communities in which it operates. Findings include local driver demographics, passenger behavior change, and reasons for Lyft use. The study conducted by the Land Econ Group showed that passengers in Phoenix saved over 2,700,000 travel hours in 2017 because of Lyft — time valued at $78,000,000.
“The ability to connect people to the local businesses in their community is what makes Lyft so special. Every day, people are accessing new areas of their city in ways they haven’t before, making their daily travels quicker, and are continuing to invest in their cities.” said Drena Kusari, Lyft Southwest Region General Manager. “Based on these survey results, passengers are saving time, spending locally, and reconsidering personal vehicle ownership when using Lyft in their daily lives- which leads to a tremendous long-term impact on our local economies.”
The Report examined 52 metropolitan regions across the United States, including Phoenix, examining the travel habits, driver and passenger communities, and behavior change in 2017.
In Phoenix, the study also found:
- 21% of passengers use the ride-sharing company to get around when public transit does not operate.
- 13% are veterans of the armed forces.
- 70% of drivers are the primary earners for their household.
- 94% of Lyft drivers drive less than 20 hours a week.
- 30% of rides start in low-income areas
- 53% of passengers use their car less because of Lyft.
Additional information on the ride-sharing company’s 2018 Economic Impact Report can be found at https://take.lyft.com/economic-impact/.
