Top executives from 40 public transport organisations from 23 countries urge authorities to make cities benefit from public transport by exploring new funding mechanisms, such as Land Value Capture, to allocate a fair part of the economic value generated by the increase in land value where public transport is developed. The message is clear: public transport is a key enabler for urban regeneration.
The delegates gathered at the UITP Global Public Transport Summit to discuss the crucial topic of funding and financing to ensure sustainable urban mobility. The sector leaders all agreed on a common declaration that will address urbanisation and the enormous pressure it puts on urban mobility.
Innovative funding for public transport
“We are playing our part by improving our efficiency and reducing costs, at the same time as increasing our customer focus. This is improving value for money and increasing the attractiveness of our services” state the leaders in the Declaration.
The gathering, UITP explains in a press release, also discussed new technologies that make our services more convenient – and easier to use – through real time travel information as well as the climate crisis which will generate devastating costs for public finances that public transport could mitigate.
The 40 executives encourage all other sectors of society to view public transport actors as allies and collaborators in ensuring the smart growth of our cities.
Urbanisation is a key challenge, public transport is the solution
“Urbanisation is rapidly increasing and it is widely expected that 60% of the world’s population will live in cities by 2030 – we read in the first chapter of the declaration -. This changing landscape will place enormous pressure on urban mobility. It cannot be met with new roads or private cars. Public transport is the solution. It delivers environmental, economic and quality of life benefits for the whole city ecosystem”.
UITP: more public transport, more job opportunities
According to UITP Policy Brief ‘Public Transport as an Instrument for Urban Regeneration’, released in summer 2018, more people reaching more employment opportunities and businesses more easily will result in more job opportunities, sales and tourism. The increased tourism spurs local economic growth and keeps businesses growing and thriving in the area.
The next Public Transport Leaders’ Forum will take place in Barcelona, Spain, on 6 September 2019 and will specifically address one of the most pressing issues of our time: climate change.