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Quantifying the Socio-economic Benefits of Transport

image of Quantifying the Socio-economic Benefits of Transport

This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the expected socio-economic impacts of transport projects. The sophistication of modern supply chains and the growing prominence of the services sector have increased the interest of decision-makers in economic benefits beyond those traditionally captured in transport appraisal.

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Executive summary

International Transport Forum

Socio-economic cost-benefit analysis (CBA) provides a quantitative measure of the extent to which, over its lifetime, a project or initiative will bring the community benefits that exceed its costs of construction and operation. This report describes efforts to improve the quality of transport CBA and its applicability to decision making. Three areas are addressed in detail: strategies for making the most of CBA, valuing and forecasting reliability benefits, and capturing wider economic impacts. The report is based on the papers and discussions at a roundtable meeting of 30 experts held in Paris in November 2015.

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