August 9, 2023
In 2021, the Passenger Transportation Board launched an investigation to better understand the economic impacts of the Covid-19 pandemic and its effects on the passenger transportation industry in BC. The results were published in Economic Effects of Covid-19 on the BC Passenger Transportation Industry(3 MB) in September 2021.
Following the 2021 report, the Board determined that there was a need to conduct a follow-up study to understand the current state of pandemic recovery.
The follow-up study, 2023 Update: Economic Effects of Covid-19 on the BC Passenger Transportation Industry(5 MB), is available today and presents data and analysis conducted by professional economist Hara Associates.
Current data for evidence-based decisions
To fulfil the Board’s mandate under the Passenger Transportation Act and ensure the industry’s long-term well-being, the Board must have access to current economic data and analysis for rendering objective evidence-based decisions.
This follow-up investigation on the recovery of BC’s passenger transportation industry from the Covid-19 pandemic was conducted pursuant to section 7(1) of the Act. As with the first study published in September 2021, the Board retained the services of Hara Associates, a professional economist, to conduct this latest investigation.
Key findings of this report
This 2023 study investigates the impact of Covid-19 on monthly trip volumes for taxis and Transportation Network Services (TNS). Also investigated are the consequences on operating costs and market share for these sectors.
The 2023 study was supported by data collected from participating licensees and combined with data filed with the Data Warehouse of the Ministry of Transportation and Infrastructure. Analysis included broader economic factors relevant to the passenger transportation industry, such as unemployment rates, airport passenger volumes, and hotel occupancy.
The Board encourages taxi and TNS licensees to review this 2023 update report, as it provides additional information and analysis, which the Board may consider in making systemic decisions related to these sectors.