A Sustainable Asset Valuation of the Sustainable Transport Strategy in Bogota, Colombia
This report presents an economic valuation of the Sustainable Transport Strategy in Bogota, Colombia, including its investment costs, added benefits, and avoided costs. The strategy includes Bogota's past and future public transport networks such as the Metro Line 1 mass rapid transit (MRT), TransMilenio bus rapid transit (BRT), and non-motorized transportation (NMT) systems in the city.
Bogota, Colombia’s capital and largest city, is home to a rapidly growing population of over 8 million inhabitants. The city’s public transportation network has struggled to keep pace with this rapid urban population growth in recent decades, leading to Bogota being ranked as one of the most congested cities in the world. On top of that, the city experiences long commuting times, high accident rates, and elevated levels of noise and air pollution.
Over the past 50 years, the primary form of public transportation in Bogota has been the TransMilenio BRT system. However, the city of Bogota has recently introduced Metro Line 1 of the Metro de Bogota, an MRT system and the first modern metro system in Colombia. The MRT aims to meet sustainable, low-carbon mobility targets while reducing traffic congestion and increasing access to employment opportunities across Bogota.
The Sustainable Asset Valuation (SAVi) assessment of the Sustainable Transport Strategy in Bogota focuses on three main public transport systems in the city: the TransMilenio BRT system, NMT infrastructure (which is currently operational and expanding in the city), and the Metro de Bogota MRT system. This assessment shows that the public transport systems (BRT, NMT, and MRT) in Bogota can provide efficient, safe, and accessible modes of transportation that have positive economic and environmental impacts as well as social benefits to the city’s population.
The results show that
- the combination of the three public transport investments amount to a cumulative net benefit (discounted) of USD 12,237 million;
- when accounting for the full range of benefits for the city of Bogota, the three public transport systems result in an integrated benefit-cost ratio of 4.5 per USD 1 invested; and
- the three public transport systems result in economic growth for Bogota by stimulating retail and property value increases as well as leading to significant health benefits for Bogota’s residents, by encouraging physical activity and reducing air pollution.
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