The impact of Uber on Toowoomba's taxi industry has been revealed in new data released by the Queensland Government. The cost of transferring a taxi licence in the city dropped almost $300,000 in the two years since Uber launched in Toowoomba.
The Sunshine Coast is among the worst-hit regions in the state by the savage collapse in the value of taxi licences. And the pain was not only felt in cities where ride-sharing app Uber was available. Fairfax Media analysis revealed Brisbane standard taxi licences were selling, on average, for more than $503,000 in 2014.
Brisbane taxi licences have plummeted in value by 78 per cent in just three years. In 2014, standard taxi licences in the city were selling, on average, for more than half a million dollars. Last year, that figure dropped to $113,003, as the dominance of ride-sharing service Uber sounded a near-death knell for...