Australia

€83 billion will be spent on railways in next ten years

A total of €83 billion (AU$129 billion) has been allocated for new rail construction and maintenance projects in Australia over the next ten years up to 2031/32, compared with just €61 billion in the ten-year period up to 2021/22. A total of €9.2 billion is expected to be spent on railway projects over the next five years up to 2026/27, according to the Australasian Railway Association's (ARA) Australian Rail Market Outlook. According to the ARA, investment per year will peak at around €8.6 million in 2023/24, remain above the current annual level of €8.3 billion (2021/22) until 2026/27 and reduce to around €5.5 billion in 2031/32. At the same time, the ARA has published a survey on rail transport. According to this, pressure on the cost of living is a major reason for increased rail use in the next six months.