Lyft passengers spent $2 billion on local businesses and services in 2017, according to the results of the 2018 Lyft Economic Impact report. By contrast, Lyft riders had an economic impact of $750 million last year, according to the 2017 Lyft Economic Impact Report. The survey of more than 60,000 Lyft passengers and drivers was collected in 52 cities across the United States.
Based on survey results, Lyft concludes that nearly a quarter of a million Lyft passengers got rid of a household vehicle in 2017. One in five passenger survey respondents said they use public transportation more as a result of access to Lyft, however, the number of Lyft passengers who use Lyft when public transportation does not operate is down from 47 percent in 2016 to 31 percent in 2017.
Since the previous report was published in December 2016, Lyft has spread from 20 cities in the United States to 52 major cities, expanding coverage from about 50 percent of the U.S. population to about 95 percent. The ridesharing service’s growth is reflected in the number of passengers, up from 5 million served in 2016 to 23 million in 2017, and total rides, up from 162 million rides in 2016 to 375 million rides in 2017.
The number of Lyft drivers doubled last year from 700,000 in 2016 to 1.4 million drivers in 2017.
The makeup of Lyft’s drivers has also changed in the past year.
The number of drivers who identify as female is up 2 percent from 27 to 29 percent, while the number of drivers over 50 is down 2 percent from 25 percent to 23 percent. The number of drivers who identify as a minority is down 10 percent from 66 percent in 2016 to 56 percent in 2017.
The number of drivers who are military veterans remains the same at 10 percent.
Differences in these national numbers can be seen when looking at a breakdown of the survey by city for things like the percentage of drivers who own their own business or the number of passenger rides Lyft says began in low-income areas.
An expansion to Toronto last November marked Lyft’s first market outside the United States. Lyft executives have also been in talks with London city officials.