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In the inaugural “charts & data” column I show how high-speed rail is becoming increasingly affordable in China and changing passenger behavior. https://lukecapital.substack.com/p/charts-data-1-hsr-affordable?r=29q0o&utm_campaign=post&utm_medium=web&utm_source=twitter
HSR now accounts for the majority of passenger travel in China
The cost of travel has gone up as HSR tickets are ~3x more expensive than non-HSR
Quid pro quo is that travel times have fallen by about 50%.
The cost of travel has gone up as HSR tickets are ~3x more expensive than non-HSR
Quid pro quo is that travel times have fallen by about 50%.
Disposable incomes have risen faster than blended ticket prices and train travel has gotten more affordable over time
It’s also relatively affordable compared to both domestic air travel transport and HSR in other countries
It’s also relatively affordable compared to both domestic air travel transport and HSR in other countries
One interesting thing is that avg. length of non-HSR trips is higher than HSR and was stable for years.
But in 2017, it started to dip – suggesting to me that HSR was seeing increased adoption amongst lower-income travelers that are more cost-conscious (e.g. migrant workers)
But in 2017, it started to dip – suggesting to me that HSR was seeing increased adoption amongst lower-income travelers that are more cost-conscious (e.g. migrant workers)
