Sustainable Mobility in Times of Financial Crisis (1)

“Cycling Is the New Golf. Middle-aged men and women have decided that they are better off spending three or four hours on their bike than hitting a little white ball around a fairway.” This comment is made by Humphrey Cobbold, chief executive of Isis Equity Partners; owner of Wiggle in Bike Europe. He considers to float the UK based online bike retailer as cycling increases in popularity. According to a recent article published in the renowned UK newspaper The Guardian; the growing interest in cycling is spurring Wiggle’s growth. The company’s 2010/2011 turnover in the year to 31 January, reached GBP 86.8m (100.9m euro) and more than quadrupled in the last five years. Profits surged 43% to GBP 10.2m (11.9m euro) in 2010/2011. The article in The Guardian notes: “Even without the buzz generated by high-profile wins such as Mark Cavendish's recent triumph in the world championships road race, the sport has a growing amateur fan base with sportives – cycling competitions – popular fixtures. Britons are also queuing up to compete in triathlons, with last month's event in London, which attracted 13,000 entrants, the world's largest.”