ECONOMIC EVALUATION OF PASSENGER TRANSPORT TERMINALS AND TRANSFER FACILITIES

The economic benefit stemming from the construction and operation of passenger transport terminals and transfer facilities is equal to the savings it brings about in recurring costs. These costs are (1) transit operating costs, (2) the travel costs of those who use the facility, (3) the costs of road users on the roads upon which traffic conditions are influenced by the facility, and (4) the facility operating costs. The authors detail a procedure to estimate the non-monetary portion of generalised costs of travelling with different modes of transport which move through passenger transport terminals and transfer facilities. The economic costs associated with creating a passenger transport terminal or a transfer facility are reflected in the opportunity costs of the initial investment (the so-called one-off cost) minus the discounted end value of the facility at the end of its service life. The facility will have an economic end value only if its remnants have an opportunity cost - ie if it can be used for alternative purposes. A hypothetical example of an economic evaluation of a proposed passenger transport terminal is detailed in an appendix. (a) For the covering entry of this conference, please see IRRD abstract no. 878368.