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THE AUSTRALIAN CYCLING ECONOMY REPORT

In an Australian first, We Ride Australia engaged Ernst & Young (“EY”) to conduct a study estimating the economic contribution of the cycling economy to Australia in 2020. The first-ever WeRide Australian Cycling Economy Report by EY was launched by the Australian Treasurer, The Hon Josh Frydenberg, MP, with Shadow Assistant Treasurer, Stephen Jones MP.

This report has found that cycling’s direct industry output as part of the Australian economy was $6.3 billion in 2020, which includes $3.4 billion direct value added to Australia’s GDP, supporting 34,295 FTE jobs.

Other key findings include:

  • Governments spent more than $428 million on cycling-related infrastructure and programs.
  • A total of $16.8 billion in direct and indirect economic contribution was identified, supporting 60,330 direct and indirect jobs nationally.
  • 5.8 million (29 percent) of Australian adults spent money on cycling related goods and services.
  • 3.3 million Australians spent money on cycling and cycled at least once a week
  • For all people who spent money on cycling, they spent an average of $990 each
  • The majority of buyers had household incomes ranging from $50,000 – $150,000 per annum.
  • 28 per cent of bicycles purchased were children’s bikes.
  • 1.7 million bikes purchased in 2020, worth approximately $1.5 billion.
  • $1.168 billion contribution from cycle tourism to the direct economic output
  • While exercise and fitness were the most common reasons to ride a bike (82 per cent)41 per cent of those surveyed cycled as a mode of transport – whether it was for work, school or to the shops.

 

You can read the entire report HERE

 

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