A report unveiled by ridesharing giant Uber on Sunday revealed that they helped transform the on-demand economy for riders, driver partners, and the wider community by generating Tk4,500 crore for Bangladesh's economy in 2021.

Uber’s 2021 Bangladesh Economic Impact Report, researched and compiled by Public First, a UK based policy research firm, dove deep into the factors behind the economic contribution, consumer surplus, how users benefit, and how driver partners gain from flexible work, according to a press release.

As per the report, Tk4,500 crore contribution included both the impact of earnings of driver-partners facilitated by Uber, and the wider indirect and induced multiplier effect created throughout the company’s wider supply chain.

Rides on Uber’s platform produced Tk7,000 crore in consumer surplus in 2021, roughly equivalent to 0.25% of the GDP of the country, the release stated.

The report also said that 95% of its riders considered comfort as an important reason for choosing to use Uber.

In a year, it is estimated that Uber saves riders over 17 million hours a year, as per their press release.

Also, 73% of driver-partners said they were satisfied with Uber in 2021. 

It helps them earn an additional Tk52.2 million in higher income through Uber or an average of 26% more than their next best alternative source of income or work.

Among female riders, 96% said that safety was an important factor in their choice to use Uber, and 72% of female riders agreed that it was easier now to get home late at night.

A total of 84% of riders without access to a car said that availability of ridesharing services like Uber was important to their choice of not owning a vehicle.

In total, the Uber report estimated that 1 in 6 Uber trips connected with public transport.

"Bangladesh is moving fast and this pace is accelerated by the technological innovations in the era of 4thIR. We’ve materialized the dream of 'Digital Bangladesh' and are focused on achieving the 'Smart and developed Bangladesh' by 2041," said Salman F Rahman, private industry and investment adviser to the prime minister, also chief guest of the event.

"I am happy to learn about the positive impact of Uber in our transportation and economy. We’ll look forward to seeing Uber’s continued and impactful contributions in the years to come," he added.

"Uber has been an important engine of economic growth and opportunity in Bangladesh since 2016, but we never knew the extent of our contribution. This research shows for the first time the impact on drivers, riders and the economy as a whole," said Mike Orgill, senior director, public policy and government relations, APAC at Uber.

"It reaffirms the importance of flexible work opportunities and how improved access to mobility is helping people move around safely and creating value for the Bangladesh economy," he added.