Page 15 - Transportation Infrastructure 2019

The Importance of Transportation in

Economic Development: Powering

Strong Economies
Beyond Transport

The movement of goods and products were limited and Infrastructure and
agonizingly slow prior to the invention of powered Economic Growth
transportation by the end of the 18th century. The invention
of the steam engine in 1760 paved the way to the invention • The seamless
transportation system
of steamboats and steam-powered train. Soon after, the allows easier haul of goods.
modern automobile, the airplanes, and jetliners followed. Accessibility of goods and
Picturing a modern society without these transportation services improve prices. It
modes can be difficult. is consequently increasing
the consumer’s buying
power.
There is recognition of the US as a country with the largest • With increased financial
transportation network in history. capability, citizens can
participate in more
“America’s transport infrastructure has a system of four economic activities. Besides
million miles of roads, 2,000 miles of railway tracks, and purchases, people can save
money, and invest in
5,000 airports. The country’s economic growth is built financial products.
upon the freedom and mobility of its citizens. “ • Economic activities draw in
more businesses and

A society that supports its citizens’ need to be mobile is a investments in the area.
More investments and
bedrock of resilient nations. Then and now, transportation businesses within the
has powered the world’s strongest economies. region mean more jobs.
With more opportunities to
earn, residents and locals
have better chances for
economic mobility.
• It improves the quality of
life for citizens through
access to social services
such as education, legal
assistance, and health
facilities.
• The accessibility of an area
attracts talents from other
regions. With quality talent,
businesses can bank on
quality outputs, better
The importance of transportation in economic development is services, and more
akin to the significance of fuel to the engine. But more than innovations.
economic repercussions, the absence of a strong transport system

may have extensive and lasting societal impact.