Bangkok's traffic congestion is complex and has remained a part of life here for a long time due to many factors, e.g., outdated city planning, proliferating vehicles, inadequate public transportation and economic growth. This places Bangkok among the world's worst traffic cities.
We at KResearch are of the view that persistent traffic congestion in the capital will have grave economic repercussions, including that it will: 1) force Bangkok residents to change their commuting habits, thus reallocating their spending to products/services that offer greater convenience; 2) drive up domestic fuel consumption, which currently accounts around THB6 billion/year; and, 3) necessitate new public infrastructure investment to solve the congestion.
A survey conducted by KResearch on the Bangkok populace's views towards traffic jams shows that they spend at least 35 minutes/trip longer than before, which equal about THB11 billion/year or THB60 billion/day in opportunity cost. Bangkok residents are willing to pay that cost in exchange for helping bolster the capital's economy.
Looking ahead, it is expected that Bangkok's traffic woes should be mitigated if various public infrastructure investment projects, aimed at increasing connectivity and improving public transportation, make substantial progress. Such investment would help spur cash flows within the economy, as well.
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