The Economic Benefits Of Cycling

As the school cycling team trains for their cycle to Paris, I thought it would be quite fitting to take a  deeper look into the benefits of cycling.As we already know ,cycling has many private health benefits. Statistics show that a "regular cyclist takes 7.4 sick days per year,compared to 8.4 sick days for non-cyclists." This is estimated to save around £128 million to the economy, with less people imposing a cost on the NHS.
    It is estimated that cyclists made around  484 million journeys along the "National Cycle Network" (13,600 miles )last year. This method of transport obviously also reduces congestion and thus pollution , therefore is no surprise that councils are trying to increase the number of cycle paths to encourage this sustainable transport method.
   The London School of Economics reported that the cycling industry generates around £3bn a year for the UK economy.Around £1.5bn was spent on bikes and another £850m on accessories in the past year. As fuel costs rise , this leads more and more people to cycling. Which boosts demand for Bicycles and therefore gives firms and incentive to produce more , for which they need more staff ; helping boost economic growth.
    A particular cycling firm Cyclehoop Ltd  have seen increasing profits over the last few years. Their innovative designs for cycle parking has been a great success and made the company millions.

 http://www.londoncyclist.co.uk/bike-parking-in-new-york-inspired-by-london-designers/