Cycling worth £2.9bn to UK economy

Dr Alexander Grous, a productivity and innovation specialist in the Centre of Economic Performance (CEP) at the London School of Economics has published a report that shows cycling produces £2.9bn every year in total benefit to the UK economy. Titled The British Cycling Economy ‘Gross Cycling Product’ Report the 17 page document shows how the the growth of cycling over the last five years, with high profile sporting success in Beijing besides, is continuing to effectively pump real money into UK plc's bank balance. The report is sponsored by Sky and British Cycling with Sky's Group Director of Corporate Affairs Graham McWilliam starting off plainly in his welcome, "We believe this is the first-ever attempt to chart the full extent of cycling’s contribution to the British economy" with Dr Grous continuing in the introduction that having attempted to quantify the contribution of all aspects of cycling, he's calculated that each individual cyclist's personal contribution as a result of their riding is £230 per year. Certainly sections like "more cyclists equals less time off work' should see this report zinging into the inboxes of bosses and human resources departments across the country. Read on here.