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Uber increases investment for Paris Olympics, expecting over 15M visitors this summer.

TraderKnows
TraderKnows
05-29

Recently, Uber announced a series of partnerships and investments to prepare for the upcoming Paris Olympics.

Uber Technologies announced a series of measures on Wednesday, including a partnership with a cruise company on the Seine River, to meet the explosive demand expected from the upcoming Paris Olympics.

The ride-hailing platform will offer free "Uber Cruises" from July 12 to August 3, and customers can also book day trips that include wine tasting activities through its "Uber Bubbles" initiative.

Uber also plans to make "significant" investments in driver incentives and passenger discounts. The company did not disclose the amount of investment in these initiatives.

Why This Matters

The company expects more than 15 million tourists to arrive in Paris this summer, an increase of 30% compared to previous years, putting pressure on the public transportation network.

It anticipates a record 40,000 drivers will provide ride services on its platform during the Olympics.

Uber has also been trying to attract cost-conscious customers with lower-priced products.

While dynamic pricing will be used during the Olympics, Uber will offer passenger promotions at key locations such as airports and Paris train stations, with nearly one million people expected to choose Uber.

Uber offers "promotions" for drivers, such as extra pay for trips completed in specific areas and within specific time windows.

The company stated, "Our app has also been approved by the Paris Police Prefecture, allowing Uber drivers to access the city's most restricted areas."

Background

Uber's efforts in Paris will include continuously updated maps and routes in the driver app to highlight area restrictions and road closures, as well as dedicated in-app pick-up and drop-off zones.

It will also add more than 130 new Uber Accessible vehicles to its platform.

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