Train Fare Revenue Rising Slower Than Passenger Journeys
The UK Office of Rail and Road (ORR) has published new data showing that train fare revenue is rising slower than the number of passenger journeys.
In the year to March 2023, passenger journeys increased by 4.5%, while fare revenue increased by only 2.3%. This means that the average fare per passenger journey has decreased.
The ORR’s data also shows that the number of season ticket holders has fallen by 10% since the start of the pandemic. This is likely due to the rise in home working, which has made commuting less necessary for many people.
The ORR’s findings are in line with other recent research on the UK rail industry. A report by the Rail Delivery Group (RDG) found that the average fare per passenger journey has fallen by 12% since 2010.
The RDG report also found that the number of passengers using the rail network has increased by 30% over the same period. This suggests that the rail industry is becoming more affordable for passengers, but that it is also becoming more difficult to generate revenue.
The ORR’s data is likely to be of concern to the government, which is currently considering how to reform the rail industry. The government has said that it wants to make the rail network more affordable for passengers, but it is also keen to ensure that the industry is financially sustainable.
The ORR’s data suggests that the government may need to find new ways to generate revenue from the rail industry. One option would be to increase fares, but this could make the rail network less affordable for passengers. Another option would be to reduce the number of services, but this could make it more difficult for people to travel by train.
The government is likely to consider all of these options before making any decisions about the future of the rail industry.
Train fare revenue rising slower than passenger journeys
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UK Office of Rail of Road a new article on 2024-11-28 09:30 titled “Train fare revenue rising slower than passenger journeys”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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