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22.08.2011 12:28Cycling Worth GBP 3 bn a Year to UK Economy
It added that a 20% increase in cycling by 2015 would save the economy GBP 207 m in reduced traffic congestion and GBP 71 m in lower pollution levels
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Cycling generates nearly GBP 3 bn a year for the UK economy, according to a report from the London School of Economics. The figure includes GBP 51 m in revenue for British manufacturers from the 3.7 m cycles sold in 2010 – a rise of 28% on 2009, The Guardian reported.
The gross cycling contribution of GBP 2.9 bn for the economy takes into account factors such as bicycle manufacturing, cycle and accessory retail and cycle-related employment.
Employing around 23,000 people, the UK cycling sector made a GBP 500 m employment contribution in 2010, including more than GBP 100 m in income tax and National Insurance contributions last year, the report said. A total of 208 m cycle journeys were made in 2010, with a net addition of 1.3 m more cyclists taking to their bikes compared to the previous year, bringing the total to 13m.
Of these new cyclists, half a million are now cycling regularly. New cyclists alone contributed GBP 685 m to the UK economy, with existing regular cyclists representing a total market value of GBP 635m. The report also showed that regular cyclists take 7.4 sick days per year, compared with 8.7 sick days for non-cyclists.
It added that a 20% increase in cycling by 2015 would save the economy GBP 207 m in reduced traffic congestion and GBP 71 m in lower pollution levels.
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