NewsRoom Panama:
Traffic jams cost Panama business $1 million a day.
Panama’s daily traffic nightmare is costing local businesses about a million dollars a day, according to a survey by the Chamber of Commerce, Industries and Agriculture.
The costs include the purchase of extra trucks and motorcycles to speed deliveries, overtime pay for workers, increased fuel costs and the use of corridors.
The additional costs will in many cases be passed on to the community already emptying wallets to cover increased fuel consumption generated by traffic jams.
The study, which analyzes the first half of this year, was applied to more than 7,000 industrial, and retail businesses in SanMiguelito and Panama.
The additional expenses incurred by these companies in the capital for six months jams totaling $154.4 million.
According to businessman John Bennett, the calculations do not even include the social cost resulting in staff efficiency, making the impact on the economy much greater.
In another survey of the Chamber of Commerce, 71% of those surveyed said that this year they will incur higher operating expenses than last year.
In September 2011, President Ricardo Martinelli, announced: "I want to apologize in advance to all Panamanians, all who live in the city, we will have a very difficult year stalemate and traffic, but we will do everything in our power to be the least inconvenience possible.”
" In an unscientific poll conducted by La Prensa, involving 417 people, 54.4% said that every day they lost two to three hours traveling at some point in the city, 33%, less than two hours and 12.4% , four hours.
In Unimer poll commissioned by La Prensa 28.3% of respondents said that because of the jams they leave their homes early to arrive on time at their destination. The preferred time to go to work is from 6:00 a.m. to 8:00 a.m.
A study by TomTom, makers of GPS devices revealed that traffic jams can raise driver stress levels by up to 60%.
Among its many recommendations to reduce the negative impact of traffic on the private sector, the Chamber of Commerce has proposed night time delivery for businesses and the towing of vehicles blocking traffic lanes.
The Metro Line I, raised as one of the solutions to mass transit, will still take more than a year to come into operation. While it will provide faster movement for workers, some commentators worry that it will not lead to a reduction of cars on the road as people traveling into the city from outside will not be affected, and city dwellers who see their cars as status symbols will not rush to use public transport.
meanwhile, followed the vehicle impoundment draining costs to businesses and citizens.
In Panama, the number of vehicles in circulation grows each year. According to the Comptroller, between January and July this year, 27,144 vehicles were sold, about 1,678 more than in the same period of 2011.
One sector benefiting from the nightmare is the petroleum industry and gas station owners.. Between January and July this year , 573.136 million gallons were sold against 564.270 million gallons in the same period last year.
Traffic jams cost Panama business $1 million daily
Panama’s daily traffic nightmare is costing local businesses about a million dollars a day, according to a survey by the Chamber of Commerce, Industries and Agriculture..
The costs include the purchase of extra trucks and motorcycles to speed deliveries, overtime pay for workers, increased fuel costs and the use of corridors.
The additional costs will in many cases be passed on to the community already emptying wallets to cover increased fuel consumption generated by traffic jams.
The study, which analyzes the first half of this year, was applied to more than 7,000 industrial, and retail businesses in San Miguelito and Panama.
The additional expenses incurred by these companies in the capital for six months jams totaling $154.4 million.
According to businessman John Bennett, the calculations do not even include the social cost resulting in staff efficiency, making the impact on the economy much greater.
In another survey of the Chamber of Commerce, 71% of those surveyed said that this year they will incur higher operating expenses than last year.
In September 2011, President Ricardo Martinelli, announced: "I want to apologize in advance to all Panamanians, all who live in the city, we will have a very difficult year stalemate and traffic, but we will do everything in our power to be the least inconvenience possible.”
" In an unscientific poll conducted by La Prensa, involving 417 people, 54.4% said that every day they lost two to three hours traveling at some point in the city, 33%, less than two hours and 12.4% , four hours.
In Unimer poll commissioned by La Prensa 28.3% of respondents said that because of the jams they leave their homes early to arrive on time at their destination. The preferred time to go to work is from 6:00 a.m. to 8:00 a.m.
A study by TomTom, makers of GPS devices revealed that traffic jams can raise driver stress levels by up to 60%.
Among its many recommendations to reduce the negative impact of traffic on the private sector, the Chamber of Commerce has proposed night time delivery for businesses and the towing of vehicles blocking traffic lanes.
The Metro Line I, raised as one of the solutions to mass transit, will still take more than a year to come into operation. While it will provide faster movement for workers, some commentators worry that it will not lead to a reduction of cars on the road as people traveling into the city from outside will not be affected, and city dwellers who see their cars as status symbols will not rush to use public transport.
meanwhile, followed the vehicle impoundment draining costs to businesses and citizens.
In Panama, the number of vehicles in circulation grows each year. According to the Comptroller, between January and July this year, 27,144 vehicles were sold, about 1,678 more than in the same period of 2011.
One sector benefiting from the nightmare is the petroleum industry and gas station owners.. Between January and July this year , 573.136 million gallons were sold against 564.270 million gallons in the same period last year.
The study, which analyzes the first half of this year, was applied to more than 7,000 industrial, and retail businesses in SanMiguelito and Panama.
The additional expenses incurred by these companies in the capital for six months jams totaling $154.4 million.
According to businessman John Bennett, the calculations do not even include the social cost resulting in staff efficiency, making the impact on the economy much greater.
In another survey of the Chamber of Commerce, 71% of those surveyed said that this year they will incur higher operating expenses than last year.
In September 2011, President Ricardo Martinelli, announced: "I want to apologize in advance to all Panamanians, all who live in the city, we will have a very difficult year stalemate and traffic, but we will do everything in our power to be the least inconvenience possible.”
" In an unscientific poll conducted by La Prensa, involving 417 people, 54.4% said that every day they lost two to three hours traveling at some point in the city, 33%, less than two hours and 12.4% , four hours.
In Unimer poll commissioned by La Prensa 28.3% of respondents said that because of the jams they leave their homes early to arrive on time at their destination. The preferred time to go to work is from 6:00 a.m. to 8:00 a.m.
A study by TomTom, makers of GPS devices revealed that traffic jams can raise driver stress levels by up to 60%.
Among its many recommendations to reduce the negative impact of traffic on the private sector, the Chamber of Commerce has proposed night time delivery for businesses and the towing of vehicles blocking traffic lanes.
The Metro Line I, raised as one of the solutions to mass transit, will still take more than a year to come into operation. While it will provide faster movement for workers, some commentators worry that it will not lead to a reduction of cars on the road as people traveling into the city from outside will not be affected, and city dwellers who see their cars as status symbols will not rush to use public transport.
meanwhile, followed the vehicle impoundment draining costs to businesses and citizens.
In Panama, the number of vehicles in circulation grows each year. According to the Comptroller, between January and July this year, 27,144 vehicles were sold, about 1,678 more than in the same period of 2011.
One sector benefiting from the nightmare is the petroleum industry and gas station owners.. Between January and July this year , 573.136 million gallons were sold against 564.270 million gallons in the same period last year.
Traffic jams cost Panama business $1 million daily
Panama’s daily traffic nightmare is costing local businesses about a million dollars a day, according to a survey by the Chamber of Commerce, Industries and Agriculture..
The costs include the purchase of extra trucks and motorcycles to speed deliveries, overtime pay for workers, increased fuel costs and the use of corridors.
The additional costs will in many cases be passed on to the community already emptying wallets to cover increased fuel consumption generated by traffic jams.
The study, which analyzes the first half of this year, was applied to more than 7,000 industrial, and retail businesses in San Miguelito and Panama.
The additional expenses incurred by these companies in the capital for six months jams totaling $154.4 million.
According to businessman John Bennett, the calculations do not even include the social cost resulting in staff efficiency, making the impact on the economy much greater.
In another survey of the Chamber of Commerce, 71% of those surveyed said that this year they will incur higher operating expenses than last year.
In September 2011, President Ricardo Martinelli, announced: "I want to apologize in advance to all Panamanians, all who live in the city, we will have a very difficult year stalemate and traffic, but we will do everything in our power to be the least inconvenience possible.”
" In an unscientific poll conducted by La Prensa, involving 417 people, 54.4% said that every day they lost two to three hours traveling at some point in the city, 33%, less than two hours and 12.4% , four hours.
In Unimer poll commissioned by La Prensa 28.3% of respondents said that because of the jams they leave their homes early to arrive on time at their destination. The preferred time to go to work is from 6:00 a.m. to 8:00 a.m.
A study by TomTom, makers of GPS devices revealed that traffic jams can raise driver stress levels by up to 60%.
Among its many recommendations to reduce the negative impact of traffic on the private sector, the Chamber of Commerce has proposed night time delivery for businesses and the towing of vehicles blocking traffic lanes.
The Metro Line I, raised as one of the solutions to mass transit, will still take more than a year to come into operation. While it will provide faster movement for workers, some commentators worry that it will not lead to a reduction of cars on the road as people traveling into the city from outside will not be affected, and city dwellers who see their cars as status symbols will not rush to use public transport.
meanwhile, followed the vehicle impoundment draining costs to businesses and citizens.
In Panama, the number of vehicles in circulation grows each year. According to the Comptroller, between January and July this year, 27,144 vehicles were sold, about 1,678 more than in the same period of 2011.
One sector benefiting from the nightmare is the petroleum industry and gas station owners.. Between January and July this year , 573.136 million gallons were sold against 564.270 million gallons in the same period last year.
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