Each journey generates value of £69, says a new study
The Plymouth – Gunnislake Tamar Valley line is worth more than £13 million a year to the economy, according to a new study produced by the TAS Partnership for the Devon & Cornwall Rail Partnership (DCRP). The study estimates that each of the line’s annual 190,000 journeys is worth £69.
The rail service creates savings, income generation or otherwise brings direct or indirect financial benefit in the following areas:
■ rail operator (GWR) – fares income, with an estimated annual revenue yield of £482,768;
■ rail users – shorter travel times than other modes (travel time savings of £388,281), cheaper costs than driving (travel cost savings of £897,513) and greater journey activity options (travel time usage value of £195,034);
■ local business and economy – generates and sustains trade (retail expenditure generated by rail users is estimated as £2.9 million, much of it in Plymouth);
■ the State – sustains tax income;
■ regeneration and economic sustainability – boosts development and investment profile of Tamar Valley area;
■ employers & employees – use of rail service by commuters, with an estimated total value of the employment from rail service…
