Cycling and the Economy

 Did you know?

• People who arrive by transit, foot, and bicycle visit individual stores more often and report spending more money than those who drive○ From the Clean Air Partnership study of Bloor West Village, Toronto, 2010
• Information from Bike to Work Week Metro Vancouver
  ○ Participants individual average income is $50,000+ (more than 27% make over $75,000)
  ○ The fastest growing segments are women and baby boomers hitting retirement
  ○ 91% are most comfortable riding on routes physically separated from car traffic
  ○ 70% of people surveyed expect to cycle more with separated bike lanes in place
  ○ Cycling is the fastest growing method of travel in Vancouver (COV website)
• The average car park can contain bike racks for up to 12 bikes. That’s twelve customers for everyone one previous! Plus your shop’s visibility increases without cars parked in front
• Pedestrians often feel more comfortable on sidewalks that are beside bike lanes, creating greater walk-by traffic
• Tourists from around the world target destination cities that boast safe cycling networks
• A report from the Dutch Research and Testing organisation the TNO says that every 1% increase in the number of employees that cycle to work saves their employers €27M per year due to lower costs from fewer sick days taken. The research was carried on behalf of Tineke Huizinga, the deputy minister for traffic and works. If it scales, the 1% difference in Canada would be double that, at 54 million dollars a year.
• Investment in cycling has huge returns. In Copenhagen, after years of improvement to cycling infrastructure, about 40% of all trips are currently made by bicycle. Copenhagen has a very similar climate to Vancouver, so there is no good reason that we cannot achieve the same results in Vancouver. In Copenhagen they are not satisfied with this number and are still making huge efforts to improve cycling conditions so as to attract more cyclists. They realize that for every $1 spent on cycling, they save $5 in other government services (see http://www.earthfuture.com/econews/pdf/back_issues/08-06A.pdf for more information). They realize that there is a HUGE payback when investments are made in cycling infrastructure.
• In Australia, for each kilometre travelled on a separated bike path, 27c would be saved in road congestion, 32c in car operating costs and 11.66c in reduced stress, frustration, route uncertainty and fear of accidents. For every $1 spent on cycleways, the benefit to the economy is approximately $4 - compared with an average of $2 for motorways.