Digital economy is not easy to measure, but extremely valuable: Uber chief economist
Uber Technologies Inc.'s ride-hailing and delivery services contributed $6.5 billion to the Canadian economy last year, according to a new report released Wednesday by the company.
The report, developed by U.K.-based policy research firm Public First and commissioned by Uber, derived at that estimate after factoring driver and delivery income, its impact on keeping the economy and supply chains moving during the pandemic as well as demand for restaurants and other indirect effects.
The report also found food delivery service Uber Eats' impact on the economy significantly increased during the pandemic, generating $570 million in additional value for restaurants last year and more than double the $210 million made in 2019. The report said Uber Eats created $2.3 billion in gross economic value for Canada in 2020.
Public First said its research for the report included a nationally-conducted poll aimed at identifying Canadian travel and food ordering habits, a survey of 3,000 Uber drivers and delivery people as well as data provided by the company and other government-sourced statistics.
The report said Uber saved its passengers over 13 million hours in a normal year, the equivalent of driving from Halifax to Vancouver over 230,000 times. Public First derived at that figure by calculating the difference between an Uber trip and the next best alternative and multiplying that by the number of annual trips taken in various regions.