Almost a quarter of the British population are now cyclists and the UK’s cycling sector generates £2.9 billion for the British economy, or £230 for every cyclist in the country.

208 million cycle journeys were made in 2010 meaning that there were 1.3 million more cyclists bringing the total UK cycle population to 13 million. The increasing levels of participation mean more money with new cyclists contributing £685 million to the UK economy.

The increased levels of cycling is good for the economy, but it is also good for our health. Regular cyclists take one sick-day less per year, which saves the economy £128 million per year in absenteeism.

Dr Alexander Grous of LSE’s Department of Management 
said: "The good news is that structural, economic, social and health factors seem finally to have created a true step-change in the UK’s cycling scene. The growth in involvement we’ve witnessed in recent years feels like a sustainable trend for the first time. In order to build on this momentum and follow the lead, in participation terms, of countries like Denmark and the Netherlands, it’s now essential that the industry focuses on converting the many occasional, lapsed and leisure cyclists into regular and frequent riders."

Stewart Kellett, British Cycling Recreation Director, said: "Building on the success of Beijing and the once in a lifetime opportunity of London 2012, we have an unparalleled opportunity to create a real legacy for cycling as a sport, a recreational activity and as a mode of transport. British Cycling, together with our partners, is making it easier for more people to get on a bike. This report is further evidence that when more people get involved in cycling there are measurable benefits to the individual, their family, their employer, the environment and the economy as whole."

For more information visit LSE's website here lse.ac.uk

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