WeRide Australian Cycling Economy Report by EY

We Ride Australia, 20/10/2021

In an Australian first, a report spearheaded by We Ride Australia 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.

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, at an online event on Wednesday the 20th of October at 7am.

Speakers included;

The Parliamentary Friends of Cycling Co-chairs

  • Member for Indi – Dr Helen Haines
  • Member for Ferren – The Hon Dr Andrew Leigh MP
  • Member for Wentworth – Mr Dave Sharma MP

Industry Leaders

  • CEO of Auscycling – Ms Marne Fechner
  • CEO of Salesforce Australia – Ms Pip Marlow
  • CEO of Westpac – Mr Peter King
  • CEO of Bunnings – Mr Mike Schneider
  • CEO of EY Oceania – Mr David Larocca

And

  • Osher Gunsberg

Other key findings:

  • 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.

Download the full report here

This article was originally published by We Ride Australia and can be read here

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