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2018 Lyft Economic Impact Report

By   /  January 22, 2018  /  No Comments

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 Finds Lyft Passengers Generated $73 Million in Additional Spending for San Diego’s Local Businesses

New Lyft Report Sheds Light on Local Consumer Spending, Travel Patterns and the Driver Community

 SAN DIEGO (Jan. 16, 2018) – The 2018 Economic Impact Report released today by Lyft highlights that the San Diego economy saw an additional $73 million in revenue generated 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 percent of the U.S. population (from 54 percent 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 San Diego saved over 2.6 million travel hours in 2017 because of Lyft – time valued at $95 million.

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 Lyft San Diego Market Manager Hao Meng. “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 U.S., including San Diego, reviewing the travel habits, driver and passenger communities, and behavior change in 2017.

In San Diego, the study also found:

  • 20 percent of Lyft passengers use Lyft to connect with public transit.
  • 23 percent of passengers use Lyft to get around when public transit does not operate.
  • 15 percent of drivers are veterans of the armed forces.
  • 68 percent of drivers are the primary earners for their household.
  • 95 percent of Lyft drivers drive less than 20 hours a week.
  • 24 percent of rides start in low-income areas.
  • 53 percent of passengers use their car less because of Lyft.

Additional information on Lyft’s 2018 Economic Impact Report can be found here.

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.

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  • Published: 4 weeks ago on January 22, 2018
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  • Last Modified: January 22, 2018 @ 11:15 pm
  • Filed Under: State and National

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