SAN FRANCISCO, Dec. 12, 2016 /PRNewswire/ -- A new economic survey released today by Lyft reports the local San Francisco economy will see an extra $113 million in 2016 thanks to the availability of Lyft's affordable, convenient rides. Conducted by the Land Econ Group, the study also showed passengers in San Francisco will save $107 million in travel time value and over 4.7 million travel hours this year alone because of Lyft.
"Based on survey results from tens of thousands of Lyft users, we found that Lyft creates a significant positive economic impact in each of the twenty metro regions we have studied," said Bill Lee, Senior Partner at Land Econ Group. "Passengers have responded to the significant time savings and enhanced mobility Lyft provides by visiting local businesses more often, staying out longer, and exploring new areas of their city that are otherwise difficult to reach."
The national survey examined over 20 Lyft markets across the country, including San Francisco. In 2016, local economies will see over $750 million in additional spending due to the availability of Lyft. Access to Lyft also meant that passengers saved over $500 million and 26 million travel hours compared to alternative transportation modes.
"Lyft is providing flexible economic opportunities and a critical source of income for drivers in San Francisco and across the country," Lyft San Francisco General Manager Mihir Gandhi said. "It's also encouraging to see that 87% of passengers in San Francisco are more likely to avoid driving while intoxicated because of Lyft, highlighting the fact that people are increasingly relying on Lyft as a safe ride home."
In San Francisco, the study also found:
- San Francisco saw a 14% increase in the number of people who say Lyft helps them avoid driving drunk, the highest among the seven cities included in Lyft's last survey.
- 57% of passengers spend more at local businesses
- 55% of drivers have had a lasting, positive community connection (e.g. friendship or business contact)
- 75% of passengers use their personal vehicle less because of Lyft
- 27% of rides start in underserved areas
Additional information on Lyft's 2017 Economic Impact Survey can be found here.
Lyft was founded in June 2012 by Logan Green and John Zimmer to reconnect people and communities through better transportation. Lyft is the fastest growing rideshare company in the U.S and is available in more than 200 cities. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities.
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