Cycling can have tremendous economic benefits especially when compared to motorized means of transport. It is understandable however that motorised vehicle have their own relevance, but adoption of transportation means like bicycles, especially for shorter commutes, can help reap some some of the following economic benefits in parts. Lets look at these economic benefits of cycling
Lower Transportation Costs for Individuals
- Bike purchase and maintenance costs are way lower than cars.
- Basic bike = $100–$500 (₹8,000–₹40,000)
- Car = $5,000–$30,000+ (₹4 lakh–₹25 lakh+)
- Maintenance = minimal (puncture repair, chain oil) compared to fuel, insurance, parking fees, etc.
- Saves thousands of dollars (or lakhs of rupees) annually!
Cycling Boosts Local Economies
- Cyclists are more likely to shop locally than drivers. Studies show cyclists stop more often and spend more overall at local businesses.
- Bike tourism (long-distance cyclists, adventure tours) brings money into small towns, cafes, guesthouses, and repair shops. For example: Europe’s cycling economy generates €150 billion+ annually!
Reduces Healthcare Costs
- Regular cycling reduces the risk of heart disease, obesity, diabetes, and depression. More cycling health benefits
- Fewer sick days + lower healthcare bills = savings for individuals, employers, and national health systems. For example: A UK study estimated that cycling to work could save £17 billion in healthcare costs over 20 years.
Creates Green Jobs
Cycling has lead to growth in some specific bike-related industries:
- Bicycle manufacturing and repair shops.
- Cycling tour companies.
- Urban planning and infrastructure (bike lanes, bike parking, smart bike sharing systems).
Such job creation in clean, sustainable sectors leads to a future-proof economy
Cycling Saves on Urban Infrastructure Costs
Building and maintaining bike lanes is much cheaper than highways.
- Bike lanes: ~$200,000 per mile (₹1.6 crore)
- Roads and highways: $1–5 million per mile (₹8–40 crore+)
Cities save billions by designing for bikes instead of cars.
Reduces Fuel and Energy Dependency
Less fuel consumption reduces oil imports, national fuel bills, and exposure to global oil price volatility. This also supports energy security which translates to a major economic advantage.