Economics and Financing

Value of Travel Time Savings

Publication no: AP-119-97
ISBN: 0 85588 481 9
Published: 1 January 1997

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This report outlines the agreed national values of travel time for different classes of road users determined as part of an Austroads project. These values will provide input to the economic evaluation of road projects and programs at all levels of government - Federal, State and Local.

AP-119/97 VALUE OF TRAVEL TIME SAVINGS
CONTENTS
EXECUTIVE SUMMARY
1. INTRODUCTION
- 1.1. Purpose
- 1.2. Background
- 1.3. Objectives
- 1.4. Links to other projects
- 1.5. Project methodology
2. CURRENT DATA ON VALUE OF TRAVEL TIME SAVINGS
- 2.1. Background
- 2.2. Ranges of value of travel time savings in transport appraisal
- 2.3. Variations in VTTS Practices Between States and Territories
3. RECOMMENDED METHODOLOGY FOR VALUE OF TRAVEL TIME SAVINGS
- 3.1. General considerations
- 3.2. Unpaid private travel time
- 3.3. Paid travel time
- 3.4. Freight travel time value
- 3.5. Urban and rural VTTS
4. RECOMMENDED VALUE OF TRAVEL TIME SAVINGS FOR AUSTRALIA
- 4.1. Recommended time values
- 4.2. A note on VTTS
5. CONCLUSIONS AND RECOMMENDATIONS
- 5.1. Conclusions
- 5.2. Guidelines for updating and reviewing value of travel time savings
- 5.3. Recommendations on direction for future research
Appendix 1 - Papers presented during the value of travel time savings workshop
Appendix 2 - Executive Summary Occupancy Survey (Final Report)
6. REFERENCES