Parking can no longer be viewed as an expense, but rather an opportunity cost.

Parkonomics

There is more to parking than one might think.

As cities, economies and populations grow, the demands of the people, retailers and commuters who occupy them grow too.

Parking management is the ‘life blood’ of any well-functioning central business district because it allows motorists the convenience of being able to find a parking space and go about their business effortlessly.

On-street parking provides motorists and consumers with easy access to businesses located on city streets. For pedestrians, on-street parking provides a level of safety in the sense that parking can serve as a traffic calming medium, in that vehicles slow down and this in turn reduces potential accidents.

An effective on-street parking management system promotes business within cities. Businesses benefit due to the fact that more of their clients are able to interact with them due to the increased availability of parking space.

Parking management contributes positively towards air quality and traffic congestion. 

In Cape Town CBD parking management contributes towards a cleaner and safer environment, due to the following:

  • Visible point of presence of ubiquitous parking marshals on-street
  • Financial contribution of parking revenue towards CCID security and cleansing 

In summary parking management contributes positively to a city CBD in the following ways:

  • Crime reduction
  • Parking turnover
  • Employment creation
  • Increased business activity
  • Revenue stream
  • Traffic/cruising