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Global Parking Recovery In China, Australia, UK, and the US: 2021 Outlook

Updated: Oct 22, 2020


Featuring Tony Jiang, President of Sunsea Parking (China), Anthony Eskinazi, CEO of JustPark (UK), and Stuart Norman, CEO of Parking Australia. Hosted by Wen Sang, CEO of Smarking (U.S.).


Timestamps

0:50 - COVID's impact on the US parking industry and recovery trends

9:36 - Insight from Anthony Eskinazi, CEO of JustPark, on the impact of COVID

17:01 - The current state of transportation and mobility in the UK and 2021 outlook

27:52 - Insight from Tony Jiang, President of SunSea Parking (largest operator in China) regarding the impact of COVID to China's parking market

48:49 - The current state of transportation and mobility Australia

1:01:35 - Outlook on 2021, insight from Stuart Norman



COVID's Impact on the US Parking Industry & Outlook on Recovery

  • Before COVID: revenue was up +20% YoY for off-street parking

  • At the start of COVID: -47% down in March and -94% in April YoY revenue change

  • Parking activity is recovering slowly but surely week-over-week

  • As of September, parking revenue is down -57% down YoY

  • Recovery trends differ per region, visit our Market Watch for more granular data

  • Recovery is happening much faster with online sales channels















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COVID's Impact on Transportation in the UK with Anthony Eskinazi


  • At the start of COVID, the UK government enacted a congestion charge, charging commuters 15 GBP ($19 USD) to drive into the city

  • At the height of the pandemic: -90% of parking volume YoY

  • There are behavioral differences per region: Canary Wharf is pretty much a 'ghost town', parking revenue is down 65-75% YoY. Whereas the West End is only down 10-20% as more people have returned to the office

  • Current state: Overall, parking volume is 20-30% lower YoY

  • As of August, JustPark started to see YoY growth. Since there has been a significant transition from public transportation to private vehicles, more commuters are leveraging online sales channels to guarantee their parking


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