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    Economics

    Uzbekistan's taxi industry generate $63.2 mn in 2023, marking 30.4% increase

    Uzbekistan's taxi industry generate $63.2 mn in 2023, marking 30.4% increase

    In 2023, taxi operators in Uzbekistan generated a revenue of $63.2 mn, marking a 30.4% increase from the previous year. This follows a period of significant growth for the market, which, after a 19.9% decline in 2020, rebounded with increases of 33.5% and 39.5% in 2020 and 2021 respectively.

    Photo: Taxi
    Source: i95 ROCK
    The market is projected to continue its upward trajectory, with a Compound Annual Growth Rate (CAGR) of 17.15% expected over the next four years. This would result in a projected market value of $141.1 mn by 2028.

    Average Revenue Per User (ARPU)

    The ARPU saw a substantial increase of 30% in 2023, rising from $13.6 to $17.9. By 2028, the ARPU is projected to more than double to $41.4.

    Despite the market’s financial growth, the number of taxi users saw a slight decrease, falling from 3.6 mn to 3.5 mn. This trend is expected to continue in the coming years.

    According to a study by the Committee for the Development of Competition and Consumer Protection, Yandex Go occupies a dominant 86.3% of the Uzbek taxi market.

    As of March 1, there were 420,800 self-employed taxi drivers registered. Of these, more than 161,600 provide passenger transport services through online aggregators integrated with the tax authorities. Notably, there is a growing interest among women in this field, with 1,053 female drivers providing journeys through these online services.

    Age distribution of drivers

    The age distribution of drivers using online taxi aggregators is as follows:

    • Under 30 years old: 59,274
    • 30 to 50 years old: 90,420
    • Over 50 years old: 11,970

    Income distribution

    In 2M24, drivers using online aggregators received income in the following amounts:

    • Up to UZS 1 mn: 104,241 self-employed
    • From UZS 1 mn to UZS 2 mn: 24,350 self-employed
    • From UZS 2 mn to 5 mn: 23,817 self-employed
    • From UZS 5 mn to 10 mn: 7,887 self-employed
    • From UZS 10 mn to 15 mn: 1,180 self-employed
    • Over UZS 15 mn: 189 self-employed

     

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    25.03.2024, 22:52   Comments (0)   2353
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