SAN DIEGO, Dec. 12, 2016 /PRNewswire/ -- A new economic survey released today by Lyft reports the local San Diego economy will see an extra $48.5 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 Diego will save $18 million in travel time value and over 692,700 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 Diego. 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 playing an essential role in helping to create a stronger community in San Diego," said Tim Houghton, Lyft's San Diego Market Manager. "In addition to encouraging more local spending and providing a flexible economic opportunity for drivers, Lyft has brought important safety benefits to San Diego—95% of our passengers are less likely to drive while intoxicated because of Lyft."
In San Diego, the study also found:
- San Diego saw a 19.3% year-over-year increase in the percentage of people who visited more inaccessible parts of the city thanks to Lyft, the highest of the seven cities included in Lyft's last survey.
- 69% of passengers use their personal vehicle less because of Lyft
- 61% of passengers spend more at local businesses
- 49% of Lyft drivers have had a lasting, positive community connection (e.g. friendship or business contact)
- 24% 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lyft-generates-485-million-for-san-diegos-economy-in-2016-300376405.html