Train Travel Makes a Comeback: Sold Out Trains
Ridership on Amtrak's Northeast corridor increased over 3.2% annually in June. A look at the most recent numbers for fiscal year 2008, which covers October through June, reveals an even sharper increase in ridership compared to the same nine months in 2007. From October through June, over 5.6 million passengers traveled the Northeast corridor, from Washington to Boston, versus 5 million during the same period last year, representing an 11% increase (and coming despite increased fares). Travel on Acela (pictured above), the Northeast-only express service, increased by 8%, from 2.4 million to 2.6 million riders.
On the Northeast corridor it is not unusual to find a large number of trains to be sold out each day.
See Greg Mankiw's related Cross-Price Elasticity of Demand X here.