The Public Transport Council (PTC) and UITP jointly organised an International Roundtable on Public Transport Fare Regulation and Financing on 25 September 2018 in Singapore.
International public transport experts from Hong Kong, Taipei, London, Sydney, Sweden and Switzerland came together with Singapore professionals to discuss key issues on public transport financing. One area of discussion was on Singapore’s new fare formula which recently integrated a new component called the Network Capacity Factor to be more responsive to changes in the public transport industry cost structure and capacity of the public transport network.
The preliminary outcomes of an International Benchmarking of Public Transport Fares conducted by the Nanyang Business School of Nanyang Technological University for PTC were also presented to the Roundtable participants. The findings of the study were released on 23 October 2018.
The Roundtable was also a great opportunity for experts to share the fare regulatory frameworks in their respective cities and countries. The full-day discussion provided valuable insights on key public transport financing issues such as the balancing act between affordability and sustainability, and the impact of fare levels on commuter satisfaction and ridership.
The generosity of PTC as a host made the Roundtable a very pleasant event. UITP will build on the insightful knowledge generated through the expert presentations and exchanges to deepen the work on public transport fare regulation and financing.
More information about the Roundtable (including a short description of PTC and the list of the ten Roundtable participants) is available here.