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Page updated: 07 September 2011

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Updated: 07 September 2011

The British Cycling Economy - Gross Cycling Product Report

The British Cycling Economy - Gross Cycling Product Report

The London School of Economics and Political Science have released the following Gross Cycling Product report which determines that cycling annually contributes almost £3 billion to the UK economy.

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The British Cycling Economy - Gross Cycling Product Report Adobe PDF 1.47 MB

The report, which was commissioned and published by Sky and British Cycling, determines that the gross cycling product of each cyclist is £230 per annum and reveals that almost a quarter of the population are now cyclists.

The report also determines that there has been a 28% increase in volume of cycle sales in 2010 and concludes that despite challenging economic circumstances, the outlook for the UK cycling industry is positive:

  • The sector is making a significant, growing contribution to the economy; and,
  • There are strong signs of long term sustainable growth in cycling participation.

The report also predicts that a 20 per cent increase in current (2011) cycling levels by 2015 could save the British economy £207m in terms of reduced traffic congestion and £71m in terms of lower pollution levels.

 

Author: The author of this report is Dr Alexander Grous B.Ec., MBA, MComm, PhD. Dr Alexanter Grous is a productivity and innovation specialist in the Centre of Economic Preformance (CEP) at the London School of Economics.

Year published: 2011

 

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