Speaking on the benefits to the economy, Lullu Krugel, an economist at KPMG, said R10 billion had been invested in new developments and up-grades to retail centres within a 10km radius of stations between 2009 and last year.
This added R28m to Gauteng’s gross domestic product, representing 3 percent of the provincial GDP and showing the importance of the multiplier effect which the retail industry has on the Gauteng economy.
This, in turn, she said, had created 148 000 jobs in 2013, representing about 4 percent of the total employment in the province that year.
“What this means for Gauteng and its future is a better quality of life for residents. The train has reduced road congestion by 21 300 car trips per day, which has also resulted in fewer accidents.
The time saving for commuters, and increased productivity levels, equals between 10 and 12 working days a year,” Krugel added.
The study shows that using the Gautrain between Hatfield and Park stations and OR Tambo International Airport and Sandton stations was three times faster than using a car.
The Gautrain also offers a greener alternative to transport, reducing the carbon footprint by 52 percent per trip.
“It also brings a move towards a more reliable public transport mode. The Gautrain is producing a highly-impressive 99.67 percent service availability, consistently outperforming overseas benchmarks of about 98 to 99 percent,” she said.
On its impact on property values close to the stations, Krugel said residential properties increased by R12,9 bn, which added another R18bn to the provincial GDP.
This had created, and sustained about 98 000 jobs in Gauteng in 2013. There had also been additional investments of R9 896m in office space.
“The study shows fewer office vacancies in blocks around the stations, especially in Rosebank where the take-up of lettable office space increased dramatically.