Traffic Congestion: A Global Problem with Far-Reaching Consequences
Traffic congestion occurs when the demand for roadway travel exceeds the available supply of roadways. This phenomenon has significant consequences, including lost time and wasted fuel for drivers, freight movers, and bus riders. The value of this lost time is analyzed in the 2024 Global Traffic Scorecard.
In addition to the direct costs of traffic congestion, there are also negative externalities that arise from this problem. These include freight delays, inflationary pressures, and environmental impacts, which can all have a negative effect on our quality of life. While these externalities are not measured in this report, they are an important consideration when thinking about the broader consequences of traffic congestion.
Fuel costs are another significant expense associated with travel. In 2024, global oil prices led to a small decrease in fuel costs for motorists. However, the overall impact of traffic congestion on fuel costs is likely to be significant, as drivers spend more time stuck in traffic and burning fuel.
