Traffic congestion is costing Nottingham businesses over £8million per year in lost productivity, according to a new study.
The TomTom Traffic Index, which is published to tell people of congestion in cities around the world, has found that traffic in Nottingham increases the amount of time each vehicle spends on the road by 119 hours per year.
TomTom found that this could amount to a cost of £8,212,190 in time spent sitting in traffic as there are 10,300 commercial vehicles which operate in Nottingham.
The Traffic Index came up with the £8.2m figure by multiplying the amount of time (119 hours) with the national minimum wage (£6.70 in 2015 for workers 21 and over) and then multiplying that figure with the amount of commercial vehicles in Nottingham (10,300).
Traffic’s taking a heavy toll on the economy
Director UK & Ireland for TomTom Telematics Beverley Wise said: “Traffic congestion may be seen as a fact of life for every driver but, cumulatively, it is taking a heavy toll on the UK economy and this should not be accepted as an inevitability.
“Making the most of billable time is key to profitability for any business, so organisations that rely heavily on a mobile workforce must look for ways to maximise the time employees spend actually doing jobs by minimising time spent on the road.
“Through smarter planning, routing and scheduling, companies can help their drivers to better avoid traffic, which could not only have an impact on productivity but also customer service.”
TomTom say that this is part of a bigger national problem with the 25 most congested towns and cities costing the UK economy over £750m per year using the same calculations for each area.
The biggest financial hit is felt in London, where £237 million is lost to traffic each year, followed by Manchester (£157,729,390) and Birmingham (£81,364,800).
