In a report released by Advocacy Advance, they explore the economic benefits of bicycle infrastructure.
Their studies showed:
- People who ride bikes buy bikes. This puts people to work in bicycle shops and apparel stores.
- With the money saved from lower travel costs, people who ride bikes have more of their money to spend on local businesses.
- Developers, cities, and individuals can save money on parking costs by providing space-efficient, low-cost bike parking instead of expensive car parking.
In Australia’s first national cycling economy report released in 2021, the analysis showed that in 2020 the cycling economy made a total economic contribution worth $16.8 billion to the economy and supported 34, 295 jobs.
Some 5.8 million Australians, or almost one in three adults, spent money on cycling related goods and services, with around 1.7 million bikes bought nationally.
Recently the Queensland Government released a report on the economic return of building bike infrastructure. See the full break down below:
The number of bike riders has increased as a result of COVID-19 and the pandemic, now is the time to invest in bicycle infrastructure to ensure it stays that way.