Public Transportation in Spain

1131 Words5 Pages
Land development schemes may be initialized, where operators are given the rights to use lands near stations, depots, or tracks for property development. For instance, in Hong Kong, MTR Corporation Limited and KCR Corporation generate profits from land development to cover the partial cost of construction, but not operation, of the urban rail systems. Public transport allows transport at an economy of scale not available through private transport. Advocates of public transport claim that investing in mass transit will ultimately reduce the total transport cost for the public. Time saved can also be significant, as less cars can translate to less congestion, and faster speeds for remaining motorists. Transit-oriented development can both improve the usefulness and efficiency of the public transit system as well as result in increased business for commercial developments. Because of the increased traffic and access to transit systems, putting in public transit frequently has a positive effect on real estate prices. For example, the Washington DC Metro system has increased land desirability around its stations, and The Hong Kong metro MTR generates a profit by redeveloping land around its stations. Much public opposition to new transit construction can be based on the concern about the impact on neighborhoods of this new economic development. Few localities have the ability to seize and reassign development rights to a private transit operator, as Hong Kong has done. Investment in public transport also has secondary positive effects on the local economy, with between $4 and $9 of economic activity resulting from every dollar spent. Many businesses rely on access to a transit system, in particular in cities and countries where access to cars is less widespread, businesses which require large amounts of people going to a same place may not be able to accommodate a
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