A report brought out recently by the London School of Economics says that cycling helps the UK economy greatly by generating as much as £3bn a year. As per the report the number of cycles sold in 2011 is 3.7 million and is 28% higher than the number in 2009. By way of sales UK cycle manufacturers has got £51m in 2011. Over a million new cyclists have come in and now the total number of cyclists in the UK is 13 million.

The London School of Economics study includes all factors such as bicycle manufacturing, retail and cycle-related employment. More than 23 thousand people work in the cycle-manufacturing related industry and contribute over £600m to the economy in wages and taxes. The estimate is that cycling industry is now worth around £2.9bn a year. Last year more than £1.5bn was spent on bikes and another £850m on accessories.