Cycling generates nearly £3bn a year for the UK economy, through bicycle manufacturing and retail, and cycle-related employment, a report by the London School of Economics has found.
With an estimated 13m cyclists now in the UK, there was a rise of 28% on the number of cycles sold in 2009. This amounted to £1.5bn spent on bikes and another £850m on accessories, while the 23,000 people working in cycling contributed more than £600m to the economy in wages and taxes.
The report suggests that rising fuel costs, improved cycle networks, concern for the environment, and the pull of the Olympics are all possible factors for the increase in popularity for cycling.
Whatever the reason, the trend is good news for all of us: a further 20% increase in cycling levels by 2015 could save millions of pounds in reduced congestion, pollution levels and NHS costs.
The report also reveals that regular cyclists take 7.4 sick days per year, compared with 8.7 sick days for non-cyclists, saving around £128m through reduced absenteeism, with projected savings of £2bn over the next 10 years.
Dr Alexander Grous, of the LSE, who conducted the research, said: "Structural, economic, social and health factors seem finally to have created a true step-change in the UK's cycling scene."
It’s a step in the right direction, that’s for sure.
