Lyft generates $49 million for Miami's economy in 2016

MIAMI, Dec. 12, 2016 /PRNewswire/ -- A new economic survey released today by Lyft reports the local Miami economy will see an extra $49 million in 2016 thanks to the availability of Lyft's affordable, convenient rides. Conducted by the Land Econ Group, the study also showed passengers in Miami will save $45.5 million in travel time value and over 1.3 million travel hours this year alone because of Lyft.

"The regulation of app-based ridesharing services like Lyft has proven exceptionally beneficial, not only in time savings to our 2.7 million residents and the millions more who visit our community each year, but also to our local economy," said Miami-Dade County Mayor Carlos A. Gimenez. "Miami-Dade continues to seek transportation options that will reduce traffic congestion so that our residents can free up time to spend with their families and Lyft has proven to be a good partner in this effort. I congratulate the team on its success, which in addition to providing another mobility option and job opportunities for Miamians, has also generated approximately $49 million in extra spending in our community, time savings of about 1.3 million travel hours, and is believed to have significantly reduced instances of driving under the influence."

The national survey examined over 20 Lyft markets across the country, including Miami. In 2016, local economies will see over $750 million in additional spending due to the availability of Lyft. Access to Lyft also meant that passengers saved over $500 million and 26 million travel hours compared to alternative transportation modes.

"In Miami alone, $49 million in new spending has been added to the local economy, benefiting the entire community," said Sam Cohen, Lyft's Miami General Manager. "It's exciting to see how Lyft is driving economic growth and encouraging local spending in Miami and in other cities across the country."

In Miami, the study also found:

• 94% of Lyft drivers have given a ride to a neighbor
• 87% of passengers are more likely to avoid driving while intoxicated because of Lyft
• 60% of passengers use their personal vehicle less because of Lyft
• 47% of passengers spend more at local businesses
• 28% of rides start in underserved areas

Additional information on Lyft's 2017 Economic Impact Survey can be found here. 

About Lyft 
Lyft was founded in June 2012 by Logan Green and John Zimmer to reconnect people and communities through better transportation. Lyft is the fastest growing rideshare company in the U.S and is available in more than 200 cities. 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.

SOURCE Lyft

Related Links

https://www.lyft.com