[stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width="100%" palette="financial-light"]

  • Loading stock data...

July 14, 2024

Dubai’s taxi sector posts 10% growth rate in trips for H1 2023: RTA

The taxi sector in Dubai has experienced a substantial growth rate of 10 per cent during the first half of 2023 in comparison to the same period last year, reported the Roads and Transport Authority.

Adel Shakri, director of Planning and Business Development at RTA’s Public Transport Agency commented on the performance. “This key sector had witnessed steady growth over the past five years. The number of journeys in the first half of 2023 totalled 55 million, up from 50 million in the same period in 2022, representing a 10 per cent increase.”

“As a result, ridership reached 96 million in the first half of 2023, up from 88.7 million in the first half of 2022,” he added.

Hala Taxi service posts double-digit growth

The market share of Hala Taxi service vehicles grew as much as 35 per cent in the first half of 2023, up from 28 per cent in the same period of 2022. Equally, the number of drivers in this sector soared from 19,000 to 26,000 between these respective periods.

Shakri explained, “This sector experienced unprecedented growth, marking its highest growth in recent years, particularly e-hailing of taxis, smart car rentals, and Hala Taxi service.”

“The analysis of figures and ratios of the sector during the first half of 2023 reflects the thriving economy of Dubai, which cemented its standing as a prominent global hub for investment and tourism,” he noted.

“In the first half of 2022, approximately 50 per cent of Hala Taxi trips had an estimated arrival time to the customer of less than 3.5 minutes. By the first half of 2023, this efficiency improved, with around 66 per cent of the trips arriving within the estimated of less than 3.5 minutes to pick up customers,” concluded Shakri.