CM Insider
Post-pandemic is the perfect time to resolve parking problems
A price index study has revealed that London will potentially lose over £448 million in parking revenue due to COVID-19. By contrast, Manchester features in second place with an estimated loss in 2020 revenue of over £24 million.
An explanation of the astronomical projected losses may be explained as London has also ranked at number four in a listing of the most expensive cities to park worldwide, according to recent research by end-to-end online car maintenance service fixter.co.uk.
The research follows a separate survey by YourParkingSpace.co.uk that found almost half of the respondents – 45% – citing expensive parking costs as their number one frustration.
With only New York, Boston (Massachusetts) and Sydney ranking higher, parking in England’s capital costs over 190% more expensive than the median figure from the 65 cities featured in the findings.
“Sky-high parking prices have been the bane of many a city driver for a long time now and look unlikely to change any time in the near future even with the steep reduction of movement during the pandemic,” says Limvirak Chea, CEO at Fixter.
Lost parking revenue
“People around
