Dec 9, 2024
The Ride-hailing Economy Report combines insights from our ongoing conversations with drivers and one of the largest driver surveys ever conducted, gathering input from 40,000 drivers across 25 countries.
This report provides valuable information on who ride-hailing drivers are, why they choose to drive, and their views on shared mobility.
It also features an independent analysis of European driver earnings by the Oliver Wyman Mobility Forum and feedback from over 200,000 customers on why they prefer Bolt over private cars.
Read on for key findings, or download the full Ride-hailing Economy Report.
Ride-hailing attracts individuals from diverse backgrounds and career stages. Drivers are typically youthful, multilingual, and often highly educated.
Youthful: 78% of drivers are under 44 years old. This trend highlights how ride-hailing can offer a solution to youth unemployment.
Multiple incomes: 25% of drivers have full- or part-time jobs, while many are business owners or actively seeking full-time employment. This underscores the crucial role ride-hailing plays in providing supplemental income.
Educated: Over 30% of drivers hold a Bachelor’s degree or higher, with nearly 1% having a Doctorate. This shows that ride-hailing can serve as a stepping stone for individuals as they advance in their careers.
Multilingual: 7 out of 10 drivers are multilingual, with over 140 languages spoken globally. This linguistic diversity enriches the service experience for a wide range of customers.
Gender imbalance: Women comprise less than 5% of ride-hailing drivers globally. Bolt is encouraging more women to become drivers through initiatives like the Women only ride type, offering a flexible and accessible way to earn money and gain financial independence.
The top reasons drivers choose ride-hailing to make money are flexibility, accessibility, availability and competitive earnings.
Flexibility: The #1 reason people become drivers is that it allows them to balance earning an income with other responsibilities:
They drive an average of 18 hours a week or 2 hours and 34 minutes a day, and 56% of EU drivers use multiple ride-hailing apps to maximise income.
Competitive earnings: Bolt driver partners enjoy competitive earnings. On average, European driver partners’ earnings exceed the minimum wage in their respective countries by 47–78%.
Driver satisfaction: 66% of Bolt driver partners report being happy or very happy with their ride-hailing experience. 10% of drivers have been in the industry for over 5 years, and 61% have been in the industry for over a year, highlighting the long-term earning potential.
Accessibility: Ride-hailing is a widely accessible earning opportunity with low entry barriers. The service is available in many cities worldwide, making it easy for a wide range of people to become drivers.
Self-employed: Most drivers use their own cars, and 63% of EU drivers rely on multiple apps for greater flexibility and higher earnings.
Upfront earnings: 75% of French drivers prefer immediate payouts over benefits like health insurance or pension programmes.
Flexible schedules: 53% of EU drivers would drive less if fixed schedules were imposed. 31% would drive less if fixed to one location, and 43% would reduce their driving if payouts were monthly instead of weekly or instant.
Ride-hailing is quickly becoming a key component of urban transport. It’s a part of a shared mobility ecosystem projected to account for 7% of urban journeys by 2030.
As an economic enabler, it provides flexible income for drivers and helps passengers save on travel costs.
Research shows that 55% of Bolt users without a car believe ride-hailing services could eliminate the need to buy one. Additionally, 9% have sold their cars since using ride-hailing, with 41% of them citing it as a key influence.
Meanwhile, 17% of car owners say ride-hailing has made them consider selling their car, potentially helping reduce city traffic.
Explore the full Ride-hailing Economy Report for deeper insights into the future of shared mobility and its economic potential:
Download the full Ride-hailing Economy Report.
