2018 Lyft Economic Impact Report finds Lyft passengers generated $59M in additional spending for Phoenix area businesses

 Lyft | Jan. 17, 2018

The 2018 Economic Impact Report released today by Lyft highlights that the Phoenix economy saw an additional $59M in 2017 thanks to the growing accessibility of Lyft rides. Coming off a breakout 2017 for the company in which it expanded operations to 95% of the US population (from 54% at the beginning of the year), the Report showcases how Lyft impacts communities in which it operates. Findings include local driver demographics, passenger behavior change, and reasons for Lyft use. The study conducted by the Land Econ Group showed that passengers in Phoenix saved over 2,700,000 travel hours in 2017 because of Lyft — time valued at $78,000,000.

“The ability to connect people to the local businesses in their community is what makes Lyft so special. Every day, people are accessing new areas of their city in ways they haven’t before, making their daily travels quicker, and are continuing to invest in their cities.” said Drena Kusari, Lyft Southwest Region General Manager. “Based on these survey results, passengers are saving time, spending locally, and reconsidering personal vehicle ownership when using Lyft in their daily lives- which leads to a tremendous long-term impact on our local economies.”

The Report examined 52 metropolitan regions  across the United States, including Phoenix, examining the travel habits, driver and passenger communities, and behavior change in 2017.

In Phoenix, the study also found:

  • 21% of passengers use Lyft to get around when public transit does not operate.
  • 13% are veterans of the armed forces.
  • 70% of drivers are the primary earners for their household.
  • 94% of Lyft drivers drive less than 20 hours a week.
  • 30% of rides start in low-income areas
  • 53% of passengers use their car less because of Lyft.

Additional information on Lyft’s 2018 Economic Impact Report can be found athttps://take.lyft.com/economic-impact/.

About Lyft

Lyft was founded in June 2012 by Logan Green and John Zimmer to improve people’s lives with the world’s best transportation. Lyft is the fastest growing rideshare company in the U.S. and is available to 95 percent of the US population. 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.

Speak Your Mind

In Business Dailies

Sign up for a complimentary year of In Business Dailies with a bonus Digital Subscription of In Business Magazine delivered to your inbox each month!

  • Get the day’s Top Stories
  • Relevant In-depth Articles
  • Daily Offers
  • Coming Events