The use of the bicycle is growing throughout Europe. With this growth in use comes the growth in sales of both European manufactured bicycles and externally produced bicycles. ECF is therefore interested in how the bicycle market operates in Europe.
For details on the external costs of other modes of transport please go here.
The Economic Benefits of Cycling
Cycling provides economic benefit in terms of improved public health, reduced levels of traffic congestion and greenhouse gas emissions, as well as reductions in expenditure on transport fuel.
SUSTRANS (the UK sustainable transport charity) has shown that the benefit to cost ratio of cycling is 20:1, compared to just 3:1 for other transport modes like road and rail. On the medical benefits alone an American study has shown that for every $1 spent on trails and cycle tracks led to $2.94 in direct medical benefit, for more of the health benefits of cycling go here.
A report by the London School of Economics looked at all costs and benefits ranging from the health benefits; cycling accessories market; the reduction in sick days by cyclists; bike sales; employment; tourism etc. and claimed that the UK “gross cycling product” is £2.9 Billion (€3.3B) or £230 per cyclist.
There is then a huge interest for ECF in looking at these economic interests and how to promote them. This is work that will be on-going for ECF.