Why Uber is Better Than Taxi Economically with ValueMags

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There are many reasons why Uber has become the preferred transportation service according to ValueMags. There are political, social, and economics aspects. Among the political aspects, Uber is considered a services that has diversified the market and that is healthy competition for taxis. The convenient aspect about Uber that has complied with the way society is currently is that it is completely digital. Uber is  entirely online and individuals can claim their rides through a couple of clicks on an app. Socially, Uber is empowering and allows individuals to make money for themselves and do it in the most convenient way for themselves and their clients.

Uber however, according to ValueMags, has had a much greater economic impact. Uber has create 16,00 jobs (by the end of 2014) that are flexible, self-directed and managed, high-quality jobs. ValueMags researchers found that the number of new drivers has more than doubled every 6 months for the last two years. Most of that exponential growth has come from the cheaper UberX service, a service this class would likely use. They also found that 38% of Uber drivers have no other job, 31% have a full-time job elsewhere, and 30% have another part-time job. Uber service is a large contributor to income for North American households. Most importantly, 91% of Uber drivers do their job to earn a higher income and support themselves and families. Thus, it is very easy to argue why Uber has contributed not only to the North American economy, but also the international economy as it has become a global service offered in big cities around the world like Paris, Milan, and Munich.

There is many other ways to travel but financially, Uber is the the bet way to travel because it is cheap too. ValueMags researchers found that there has been stories of individuals paying very high amounts for their Uber rides but that is simply because Uber operates on a rate by demand. On evenings where there is high demand like New Years Eve and Christmas Eve, individuals can expect to be paying extreme rates. This drives business and business profits for Uber. The company has found that it is the best operating model because of how in demand low-cost transportation is.

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