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NPA Report: Parking Revenue Increases

Wednesday, February 1, 2017  

Parking revenue in the U.S. is projected to grow by $4 billion to nearly $29 billion by 2018, according to a new study by the National Parking Association (NPA). The latest NPA Parking Demand Report estimates that nearly 120 million Americans drive to work, and population expansion continues to be the primary driver of parking expansion.

High employment levels, more commuters and more people driving to vacations rather than flying also are increasing parking demand. Though the financial outlook for the sector seems strong, a rising unemployment rate, lower consumer confidence and rising fuel costs could negatively affect parking demand in the future.

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