The Railway Association of Canada (RAC) has published Rail Trends 2024, its annual report providing a decade-long review of the rail sector’s financial and operational performance.
The findings highlight the rail industry’s role in driving economic growth, improving safety, and supporting sustainable development across Canada.
Key Highlights from Rail Trends 2024
Infrastructure Investment: Canadian railways invested 2.9 billion CAD to enhance the safety, efficiency, capacity, and fluidity of the nation’s supply chains.
Improved Safety Performance: In 2023, rail safety saw notable improvements, including an 8.5% reduction in total accidents compared to 2022. The passenger train accident rate improved by 52.4%, the freight accident rate by 7.7%, and the dangerous goods accident rate fell by 15.9%.
Workforce Expansion: The rail sector added 2,000 direct jobs, with increased representation of women, Indigenous peoples, visible minorities, and persons with disabilities.
Passenger Rail Recovery: Passenger railways experienced strong recovery, with commuter ridership rising by 70.5% and intercity rail passengers increasing by 30.7%, helping to ease road congestion.
Economic Contributions: Railways paid over 2.5 billion CAD in taxes, reinforcing their contribution to Canada’s economy.
This 32nd edition of Rail Trends compiles data up to 31 December 2023, reported by RAC member companies, including Class 1 and shortline freight railways, as well as tourist, intercity, and commuter rail services.
The full report can be accessed here.