Recent innovations in ITS technology have revolutionized the concept of toll roads that we have known for the last four millennia. Tollways have remained largely unchanged, even with their inherent traffic congestion problems and chronic financial deficits. Now, automated technology offers an attractive alternative. Electronic toll collection (ETC) systems, or cashless tollways, being implemented throughout the world, offer a free-flowing, open-road system that not only benefits the motorist but offers substantial financial advantages for the investor. Until now, tollways have generally proved to be a dubious business investment, requiring huge capital expenditures and ongoing operating and maintenance costs rarely recouped by toll revenues. Cashless tollways not only reduce capital and operating expenses, but generate increased revenues by offering a user-friendly system that actually encourages customer use. The number of ETC projects being considered and developed worldwide indicates that these fiscal benefits have not gone unnoticed. Decision-makers considering tollway projects for transportation management solutions should appraise ETC's long-term financial advantages.
Abstract