The Economic Benefits Of Bike Sharing

The latest buzz in the transportation sector which is making news all over the world is the change in commuting methods. From motor vehicles, there has been a radical shift to using electric vehicles as a means to commute.  Cities like London, Berlin, Copenhagen have already adapted to the change and now it is time for India to also be part of this movement. It turns out quality bike share programs can have a huge positive impact on cities. Discussions around the positive effects of bike sharing often focus on environmental sustainability and the personal health benefits experienced by users. When new bike share schemes are introduced, there’s often a reference to the “greening” of the city; ideally, more bikes can equal fewer cars, which leads to a reduction in greenhouse gases and an improvement in local air quality. Other times, city authorities and bike share operators highlight the private health benefits of daily biking, which can help locals to lead healthier, more active lives. These are certainly a few of the major benefits of bike sharing, but the economic benefit from bike sharing cannot be ignored in any way.

Bike sharing is trending as a means of transportation and it seems that with time it will grow bigger and bigger as an industry. Bike sharing as a medium of commutation has several economic benefits on the society. To begin with, it has a very deep impact on the businesses. It can be easily grasped that when cycling is used as a means to commute, it helps save the extra expenditure on fuels like petrol and diesel. The electronic vehicles are definitely the utmost need of the hour considering the heavily rising prices of the fuels. We do not suggest you to completely get rid of cars or motor vehicles, but rather appeal to you to prefer cycles as a medium for the first mile and last mile commute, or if you are travelling a shorter distance, which might work without a car. This will help in keeping a check on the expenditure and also conserves the fuels at the same time. Bike sharing program is an alternative that comes with multifold benefits. If reports are to be believed, bike sharing enhances business in the neighbourhood. The cycles help reach door to door and serve as an ideal mode of commutation that could also help the business develop. The increased accessibility in the neighbourhood also helps a business grow. This might need to be a major economic boost, but every contribution counts. Cycling is also recommended as a means of exercise by physicians all over the world. The nation is moving towards attaining fitness goals, but hardly has any time to spare owing to the busy schedule. At such times of crisis, the bike sharing program comes as a boost to those fitness enthusiasts who do not mind losing a few carbs regularly. It is often seen in the big cities that individuals spend thousands every month on working at gyms. One may easily escape the expense by cycling regularly for half an hour at the most and stay fit. The expense is almost negligible compared to that of gyms and fitness centres. It is not just that, the expenditure on medicines and healthcare can also be saved by merely altering your mode of commutation. Cycling regularly to and fro your destination will give you the much-needed fitness and improve your immunity and keep you healthy and thus saving the medical expenses. It is difficult to quantify the health benefits of bike sharing but it is reflected in the economic output which is a result of a healthier productive workforce. The time-saving qualities of a bike sharing program are what benefits the city’s economic culture. We never point to bike sharing not as a stand-alone method of transit, but as a critical connective element of urban mobility. Bike share systems address capacity constraints in cities by decreasing journey times and increasing workers’ access to the city, including so-called “last mile-first mile” trips. Giving workers greater and more time-efficient access to the city can provide improved access to more suitable or higher-paying jobs. In short, removing certain mobility constraints can allow for greater participation in the urban labour force.

Bike sharing program is a very essential component in the economic development of within the society, taking into consideration the urban compactness and the gap that remains inefficient urban mobility. Electronic vehicles have emerged as the new trend that is being spread all over the major cities in the world, and India should not remain behind, considering that we need it utmost. Yulu has brought the same programme in the Indian market. Yulu rents out cycles at cheap rates for your daily commutation. All you need to do is scan and rent a bicycle using the Yulu app and help yourself to a lot of savings!

Author: Yulu

Yulu's vision is to reduce traffic congestion by providing a scalable, affordable, efficient and clean solution for the first mile, last mile, and short distance commute. We strongly believe that short commute mode can be made more Efficient, Affordable and GREEN, thereby ensuring that future generations will have a healthy environment to live. We want to replace big personal vehicles with a smaller form factor that does not require fossil fuel. We are using IoT technology to create a vast network of shared dockless bicycles that can be rented easily by a user-friendly app in pay per use business model. We are a mission-driven company based out of India with a solid founding team and big ambitions. At Yulu we believe that every day is a mission and success is exciting when its attained with fun and as a team. If you want to solve the problem of traffic congestion, reduce pollution, positively impact the society, let's have a conversation to partner in our journey to shape a new India for our future generations.

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