VALUES OF BUS TRAVEL TIME SAVINGS AND SERVICES IN BANGKOK

A number of studies have been done on values of travel time savings in developed countries. It was found that the values of walking and waiting time were valued on average at twice or more in-vehicle travel time. In developing countries, cost-benefit analysis and travel demand analysis simply and often used this as a basic ratio. There is not clear whether this is applicable in their countries. This paper reports research in Bangkok on values of bus services, including: in-vehicle travel time, wait time, number of interchange, and crowded level on bus. The study found that waiting time is valued only 15% higher than in-vehicle travel time. Passengers are willing to travel 22 or 35 minutes longer on a bus to avoid one or two interchanges, respectively. Passengers are willing to wait 14 minutes at the bus stop for an un-crowded bus. The study also found that the values are influenced by trip purposes, travel time and vehicle ownership.