The Railway Association of Canada (RAC) has released Rail Trends 2024, the 32nd edition of its rolling ten-year review of the industry’s financial and statistical performance. The information is a compendium of Canadian rail data up to Dec. 31, 2023 from RAC members: Class I freight and short line railways, and tourist, intercity and commuter passenger railways.
In 2023, Canadian railways “invested C$2.9 billion to improve the safety, efficiency, capacity and fluidity of Canadian supply chains,” RAC said. “Canada’s railway safety performance has been exceptional. Compared to 2022, the total number of accidents decreased by 8.5%, the passenger train accident rate improved by 52.4%, the freight train accident rate improved by 7.7%, and the dangerous goods accident rate decreased by 15.9%. The railways created 2,000 direct jobs, and the representation of women, persons with disabilities, visible minorities and Aboriginal peoples increased. Passenger train ridership has recovered, as commuter numbers increased by 70.5% and intercity passengers have increased by 30.7%, reducing congestion on public roads. Taxes and duties paid by the sector exceeded C$2.5 billion.”
“Railways don’t just move goods and people; they move the economy,” said Marc Brazeau, RAC President and CEO. “Rail Trends 2024 (download below) demonstrates what a strong rail sector means to a competitive and resilient Canadian economy. “With more than 37,000 railway workers, the rail sector invests billions of dollars each year to improve safety and efficiency and to support the growth of Canadian businesses. Driven by passion, pride and resilience, Canada’s railways continue to rise to the challenge.”
