$4 Billion Growth in Parking Revenues by 2018

Parking revenues are expected to surge from $25 billion to $29 billion between 2015 and 2018 with more growth in the years ahead, according to a new study titled “The NPA Parking Demand Report,” by the National Parking Association (NPA), in cooperation with co-sponsor Denison Parking.

The 47-page report “assembles substantive research data, analyzes the data and draws correlations between market conditions and their relationship to the parking industry,” according to a press release announcing the new report. The study analyzes parking trends at private sector, municipal, college/university and medical centers.

Besides population growth, the study looked at other factors that could have a positive impact on parking revenues that included “high employment, more commuters, more people driving for vacations, a rise in Baby Boomers driving to seek healthcare services, more students at colleges and universities driving to or on campus, municipalities increasing parking development, and positive changes to parking pricing methods.”

The report also looked at developments that could negatively impact parking demand, which included high unemployment, lower GDP, reduced consumer confidence, zoning laws that limit parking lot construction, high taxes and high fuel costs.

The price of the report is $399 for National Parking Association members and $599 for non-members.

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