Industry Analysis & Industry Trends
There has been a resurgence in the popularity of passenger rail over the past decade, with patronage in many cities reaching record levels. Growing patronage has been driven by several factors, including the high cost of petrol – prior to a substantial drop in 2014-15 – and other costs associated with passenger vehicles, such as parking and time spent in traffic. Higher employment in central business districts (CBDs) and strong population growth have also boosted patronage rates. Industry revenue is forecast to grow at a compound annual rate of 3.1% over the five years through 2015-16, to reach $8.8 billion. Lower petrol prices compared with previous years are projected to result in slower growth of 2.1% in 2015-16... purchase to read more
Industry Report - Industry Analysis Chapter
The Rail Passenger Transport industry has grown strongly over the past five years on the back of increased patronage. The industry's primary function is to transport workers and students between dispersed residential areas and city centres. Rail passenger numbers have grown over the past five years, with the increasing cost and inconvenience of driving, due to high fuel prices and increasing road congestion, encouraging many commuters to substitute driving to work with catching the train.
Petrol prices have grown strongly over the past decade, a long-term trend that has made passenger vehicles relatively less attractive for commuting... purchase to read more