Searching for Parking Costs Drivers Billions a YearPosted 30.10.2017.
„The Impact of Parking Pain in the US, UK and Germany“, published by INRIX Research in July 2017, is the first ever study to estimate the economic impact of parking pain, where INRIX leveraged the INRIX Parking database of more than 35 million spaces in 8,700 cities across 100 countries and combined this with a large-scale study of 17,986 drivers’ parking behavior and experiences across 30 cities in the U.S., U.K. and Germany.
Insights from the INRIX Impact of Parking Pain study include:
- Searching for parking imposes a significant economic burden with drivers in the U.S., U.K. and Germany wasting 17, 44 and 41 hours a year respectively at an estimated cost of $72.7 billion, £23.3 billion and €40.4 billion a year in these countries.
- The largest cities and major financial centers suffer the most with drivers in New York (107 hours), London (67 hours) and Frankfurt (65 hours) spending the most time searching for parking each year.
- Paying for more parking time than required (“overpaying”) is a universal parking pain with drivers in the U.S., U.K. and Germany (costing $20.4 billion, £6.7 billion and €4.4 billion a year respectively).
For more information on the study „The Impact of Parking Pain in the US, UK and Germany“ please visit: http://www2.inrix.com/research-parking-2017.
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