There’s no doubt that the traffic problem in Metro Manila is, well, a huge problem. It’s bad enough that it causes roadrage and high blood pressure; it get’s worse if we consider the gargantuan waste of money. The estimated financial losses caused by the traffic problem, while not uniform, are staggering. Consider the following:
* The losses amount to “more than P15-billion pesos yearly,” according to the NGO Citizens’ Traffic Watch, echoing a World Bank-commissioned study many years ago.
* The yearly economic cost is about 100 Billion Pesos, according to UP Professor Noriel Tiglao, who, together with Professor Ricardo Sigua, prepared a paper entitled “Economic Impact of Traffic Congestion in Metro Manila.”
* The annual figure is P140 Billion, according to the Department of Transportation and Communication (DOTC), counting direct and indirect economic losses due to traffic congestion. Others believe that the figure is much more than the DOTC’s P140-billion figure.
The estimated daily loss amounts to millions of pesos, and just in case the emphasis isn’t enough, that’s DAILY. Here’s the daily loss for each of the following sectors:
Executives (100.693 Million pesos)
Professionals (94.921 Million pesos)
Technicians (19.504 Milion pesos)
Clerical workers (20.271 Million pesos)
Service workers (41.793 Million pesos)
Now, we all know about the traffic problem and its negative financial impact on our society. What are we going to do about it? (Sources: Our traffic mess costs P140B, ABS-CBN News Online; Long commute means P100-B down the drain, The Manila Times)
