Changes in transportation would benefit Australian economy

13 Aug 2019

Research by management consultancy LEK Consulting illustrated the positives achieved from the consumption of the newly developed cars, improved with application of technology. The company found out in its report ‘Economic benefits of new mobility for Australia’ that ‘New mobility is likely to have a strong, positive impact on the Australian economy, raising real GDP by AUD$62 billion to AUD$92 billion, or 2%-3%, by 2050.’

pv magazine reported that Mark Streeting, Partner at the management company said that when the research started being carried out, they ‘weren’t clear on whether the impact would be positive or negative to the economy overall’ but that the results would help the decision making by businesses and the government as well as policy making.
 
Making changes in the choice of transportation leads to potentially reducing problems that hinder work participation. The report showed that the Australian labour force would be increased by ‘200,000-274,000 full-time equivalents, or about 1%-2%.’ Another survey demonstrated how automated vehicles (AVs) could potentially increase job access by 7.5% of people who are underemployed or unemployed. AVs would also allow for less road accidents to happen which would in return have a reduction in healthcare costs.
 
Streeting added, ‘We’re unlocking opportunities for enhanced mobility not only for the general population, but importantly for the transport disadvantaged, including those with disabilities.’