The 3rd International Conference on Public Transport Financing ended today with the conclusion that public transport needs a new paradigm in order to sustain the growth of public transport without overburdening public budgets. The event was held together with the 6th Asia-Pacific Congress of the International Association of Public Transport (UITP) and hosted by MTR Corporation, Hong Kong.

The growth of public transport can only be sustained if public transport stakeholders implement innovative and ambitious funding and financing strategies, such as:

·    revenue strategies to optimise fares based on market segmentation, value creation and innovation and loyalty programmes; 

·    non-fare revenues provided by station business development, including shops in stations, advertisement, value-added services like free WIFI and free magazines;

·    earmarked taxes, charges and levies generated by parking policies, congestion charges, gas taxes, land value capture, employers' taxation, etc, in a coherent fiscal framework;

·    partnership development with the private sector provided that relevant frameworks are in place and risks are clearly allocated.

"There is no silver bullet but there is a need for a combination of innovative revenue and funding streams. It is up to each city to devise the most adequate mix of financing tools according to its local and national specific context," said Hans Rat, Secretary General of the International Association of Public Transport (UITP).

The event has been a real source of inspiration for the 450 delegates from more than 30 countries, be they public or transport authorities, public transport operators or finance-sector professionals.

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Notes to editors:

UITP (International Association of Public Transport) is the international network for public transport authorities and operators, policy decision-makers, scientific institutes and the public transport supply and service industry. It is a platform for worldwide cooperation, business development and the sharing of know-how between its 3,400 members from 92 countries. UITP is the global advocate for public transport and sustainable mobility, and the promoter of innovations in the sector. Visit www.uitp.org.

Press contact: Sarah D'Angelo | UITP Press Junior Manager

Direct phone: +32 (0)2 6636639 | Fax: +32 (0)2 6601072 | sarah.dangelo@uitp.org