Cycle industry is bigger than steel industry, argues new BAGB research
Carlton Reid3 hours ago
The Bicycle Association has today unveiled new research that shows the national strategic importance of cycling, and that if the government met its own target to double cycle usage by 2025 then cycling would deliver a £10 billion boost to the economy, sustaining more than 100,000 jobs.
The cycle industry isn’t currently considered to be “strategic” by the UK government. That needs to change, argues the Bicycle Association’s new report, launched today in London’s Guildhall. The Value of the Cycling Sector to the British Economy was written by Carey Newson and Lynn Sloman of the sustainable transport consultancy Transport for the Quality of Life.
The report was unveiled before an industry panel convened at the Bicycle Association sponsored International Cycle History Conference hosted in the Guildhall by the City of London Corporation. Bicycle Association operations director Steve Garidis revealed the main findings of the report in front of industry figures such as Raleigh MD Pippa Wibberley and Moulton’s Dan Farrell.
Garidis said the report revealed that the UK cycle industry is worth three times more than the UK steel industry, and employs twice as many people. Cycling related businesses currently generate at least £5.4 billion for the UK economy each year, and they sustain 64,000 jobs, some in bike shops but most in cycle tourism of one sort or the other.
A bicycle is sold roughly every 10 seconds, estimates the report.