LONDON UNDERGROUND 3 DAY STRIKE SIMULATION
Estimating the exact economic impact of a 3-day strike and closing of the London Underground is challenging without specific data. However, I can provide you with some general information on how such an event could affect London's economy.
Direct losses:
Lost revenue for Transport for London (TfL) due to a lack of passengers using the London Underground during the strike.
Increased costs for TfL as they may need to provide alternative transportation options, like increased bus services or compensating passengers who purchased tickets in advance.
Indirect losses:
Lower productivity: Many commuters rely on the London Underground to get to work, so a strike can lead to reduced productivity as people struggle to find alternative means of transportation or arrive late to work.
Lost business revenue: Businesses, particularly those located near Underground stations, may see a decline in customers during a strike. This can affect retailers, restaurants, and other businesses that rely on foot traffic.
Impact on tourism: Tourists visiting London may face difficulties navigating the city during a strike, which could lead to reduced spending on attractions, accommodations, and other tourism-related expenses.
Increased congestion and pollution: With the Underground closed, more people may turn to cars or other forms of transportation that contribute to congestion and pollution in the city.
The number of affected commuters is aproaching 1 million londoners in a single day !
More than a 1/4 million working hours would be lost on Friday alone
Analyzing the working hours lost can provide valuable insights for employers, policymakers, and city planners to develop contingency plans for future disruptions. This data can also help identify the most affected sectors and regions within the city, enabling targeted responses and support mechanisms to be put in place. Furthermore, understanding the magnitude of working hours lost during such events can prompt discussions on the need for flexible work arrangements and remote work options, which could alleviate the negative effects of similar situations in the future.
This multiline chart presents a comprehensive visualisation of the impact of the London Underground strike over three days
Thu Mar 23 2023 00:00
Fri Mar 24 2023 00:00
Sat Mar 25 2023 00:00
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
Lost
Revenue
Alt
Transport
Revenue
Economic
Impact
Lost Working Hours
Affected Commuters
Lost
Revenue
Alt
Transport
Revenue
Economic
Impact
Lost Working Hours
Affected Commuters
Lost
Revenue
Alt
Transport
Revenue
Economic
Impact
Lost Working Hours
Affected Commuters
The chart effectively demonstrates the daily fluctuations in each metric during the strike period. It highlights the following key insights:
Alternative Transport Revenue: The alternative transport revenue line showcases the gains made by other transportation methods during the strike. Similar to lost revenue, this line also exhibits an upward trend over the three days.
Lost Revenue: The lost revenue line represents the financial loss experienced by the London Underground due to the strike. A steady increase can be observed over the three days, with the highest losses on the last day.
Economic Impact: The economic impact line captures the overall financial consequences of the strike on the broader economy. It demonstrates a consistent increase over the three days, indicating the compounding effect of the strike on the city's economy.
Affected Commuters: The line for affected commuters shows the number of people whose daily travel was disrupted by the strike. The chart reveals a peak on the second day, indicating the highest impact on commuters that day.
Lost Working Hours: The line for lost working hours depicts the productivity loss in the city due to the strike. It shows a peak on the second day, suggesting a strong correlation between the number of affected commuters and lost working hours.