| Title | Cutting the loss: International benchmarking of a sustainable ferry business model |
|---|---|
| ID_Doc | 70210 |
| Authors | Tsoi, KH; Loo, BPY |
| Title | Cutting the loss: International benchmarking of a sustainable ferry business model |
| Year | 2021 |
| Published | |
| Abstract | With rapid road infrastructure development in the past century, the role of water passenger transport has diminished drastically worldwide. A lot of ferry services in coastal cities have become financially unviable. However, water transport has huge potentials in promoting transport sustainability and resilience. This paper proposes a holistic framework that examines five core elements in a ferry business model, including (i) population demand, (ii) connectivity to public transit and activity nodes, (iii) individual preferences, (iv) management and operational strategies and (v) pier infrastructure. An international benchmarking framework of ferry operation and pier management across several cities with large-scale ferry development (Brisbane, Hong Kong, London, New York, San Francisco and Venice) is proposed and tested in Hong Kong. There are several general lessons. First, providing denser and more diversified opportunities (employment, commercial, recreation and open space) near the piers with good connectivity is essential. Direct access to these activities by water transport and well-developed intermodal transfer are conducive to ferry patronage. Second, improving the travel experience of passengers, including pre-boarding and on-board experience, is fundamental. Overall, integrating ferry services, pier infrastructure and promenade development in a policy package is critical to the longterm viability of ferry transport, although several critical challenges need to be addressed. |
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