Profiting from parking – google data analysis provides interesting insights into UK airport parking trends
Car parking has for a long time been a major ancillary income stream for airports across the globe. Even with increasing environmental pressures to push travellers to public transport and increasing passenger demand putting pressure on parking capacity, it remains a key part of non-aeronautical income whether passengers are using their own private vehicles, or increasingly through charges for drop-offs and pick-ups.
Car parking currently accounts for around one quarter of total airport revenues, but changing consumer behaviour and developing technology is already disrupting this stream. For example, Millennials are much more multimodal and will choose the best transportation mode based on each individual trip; ridesharing is becoming increasingly popular and we even have the possibility of driverless cars not too far into the future.
It is clear that airports will need to look differently at how they approach car parking, but a one-size fits all solution is unlikely to be the answer. New UK research from travel insurance provider Staysure – using Google search data on car parking habits at the country’s ten largest airports – has discovered usage varies considerably between airports can be related to a range of different factors.
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