Public transport | funding and financing

There is a need to rethink how public transport networks are financed and funded globally. Since 2020, transport agencies across the world have struggled to recover from the drop in public transport passenger numbers and to close the funding gap from declining farebox revenue. Operating expenses have also been on the rise, due to increases in energy and labour costs. This has had an impact on the quality of public transport, with various ripple effects on the frequency, reliability, accessibility or safety of
these services, in turn negatively affecting the level of public transport ridership. Other cities have struggled to return to pre-pandemic levels of ridership and to adapt to new ways of commuting, leading to cuts in public transport service provision.
If the issue of revenue shortfalls is not addressed, public transport networks are at risk of falling into a downwards spiral of operations and maintenance decline, passenger dissatisfaction and a further drop in ridership levels, with dire consequences for emissions and air quality. This in turn affects the perception of public transport as an attractive and useful mode of transport to invest in. Sustaining and increasing the amount of finance and funding available for public transport investment is critical for ensuring that
cities remain liveable, inclusive, economically productive and climate resilient.

source :

https://www.linkedin.com/posts/louiseribet_c40-gide-on-public-transport-funding-and-ugcPost-7311318022894342144-VALl?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAtGGkQBsxwMBmX3lEJO8btihnfBCaHqTz4