The latest bulletin from Frontier (Australia) looks at the challenges of traffic forecasting. With A$27 billion pledged in the federal budget for road spending, how well do we forecast road useage?
Accurate traffic forecasts are important when looking to secure funding for road infrastructure. However, a study of recent Australian toll roads found that in the first year, actual traffic volumes were on average 45% below the forecast levels. So what is causing these large inaccuracies and is it possible to address these problems?
Frontier (Australia) advises clients on policy issues across the transport sector and on demand forecasting more broadly.
For more information, please contact Marita O’Keeffe at m.okeeffe@frontier-economics.com.au or call on +61 (0)3 9620 4488.