Experts: Traffics in emerging countries hamper global economy

Experts: Traffics in emerging countries hamper global economy
By 2035, car fleet in OECD countries will be tripled to 1.2 bln

Baku. 26 September. REPORT.AZ/ Traffic jams in developing countries may decrease car trade and oil demand. 

Report informs referring to, specialists of Legal & General Investment Management (LGIM), managing assets worth $1.29 trillion.

According to LGIM analyst Court Gilbert, in 20 years the global car fleet will be doubled and 90% of this growth will be in developing countries. 

According to the BP forecasts, car fleet in non-OECD countries will triple to 1.2 billion in 2015-2035 years due to which global demand on energy resources will grow by 30%. ExxonMobil expects a 62% rise in energy consumption in the Asia-Pacific’s transportation sector between 2015 and 2040.

Navigation equipment manufacturer TomTom researched the situation in 188 cities with population over 800,000 people and revealed that 19 of the 20 most congested cities of the world are located in emerging countries.

Mexico ranks the first place, followed by Bangkok and Jakarta, Chongqing and Chengdu in China, Tainan in Taiwan, Rio de Janeiro, Istanbul and Bucharest.

According to Nation Master, in 2014, USA had 797 motor cars per 1000 people, Australia - 717, Italy - 679. However, in emerging countries vehicles may soon reach record number per capita. According to LGIM forecasts, 56 most congested cities will be in the emerging countries. Dhaka, capital of Bangladesh tops the list (44100 people per sq. m). It is followed by Mumbai and Hong Kong (more than 25000 per sq. m). For comparison: In London, the most congested cities in the developed countries live 5600 people per sq. m.

Emerging countries are inferior to developed countries in road infrastructure. USA has 22.2 kilometers of roads per 1000 people, China just 1.1 km. Average indicator for developed countries equals to 7.7 km, for emerging 2.8 km.

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