WA’s cycling industry poured $651 million of value to the nation’s economy and $1.27 billion in economic output during 2020 as demand for bicycles surges, a landmark report has revealed.
WA’s cycling industry poured $651 million of value to the nation’s economy and $1.27 billion in economic output during 2020 as demand for bicycles surges, a landmark report has revealed.
EY’s Australian Cycling Economy Report looked at the size and scope of Australia’s cycling economy, in terms how much people are spending on and participating in cycling.
It found that Western Australians spent $562 million directly and $709 million indirectly on cycling in 2020.
Cycling in WA directly added $302 million and indirectly added $349 million to the economy.
Nationally, cycling made a $6.3 billion direct contribution to the economy and added $3.4 billion direct value to Australia’s GDP in 2020.
EY stated that the COVID-19 pandemic had impacted the sector in a unique way.
“Whilst many cycling industry shopfronts and tourism providers were negatively impacted by social restrictions, the overall demand for bikes has increased materially,” the report stated.
In the most recent financial year, the total number of bicycle imports to Australia was up by 46 per cent – from 1.2 million to 1.7 million – compared to 2018-19.
“This increased demand for bike purchases in 2020 is reflected in contribution estimates, offset to an extent by the capacity of participants to spend on things like tourism and events,” EY added.
WestCycle chief operating officer Glenn Te Raki welcomed the results of the report, which was the first of its kind in Australia.
“It is a promising report we are excited about (and) we’ll be using the data to continue the growth we are already seeing,” he said.
EY estimated that 5.8 million Australians, or 29 per cent of adults between 18 and 90, spent an average of $990 on cycling related goods or services during 2020.
Australians purchased 1.7 million bikes in 2020, including 476,000 children’s bikes.
In 2020, Australians who cycle at least one a week spent an average of 43 per cent more on cycling-related items than those who rode at least once a fortnight.
A majority (62 per cent) of cyclists who ride at lease once a month and 55 per cent who ride at least once a fortnight said they would cycle more often if bicycle infrastructure was improved.
EY calculated that if these riders moved to riding at least once a week, it would generate an additional $118 million to the national economy – or $245 per cyclist.
Mr Te Raki added that his organisation would continue to advocate for better cycling infrastructure in WA.
“We will continue to advocate for better facilities, more infrastructure, better opportunities and having these figures gives a lot of confidence when it comes to talking with governments,” he said.
The report estimated that cycling supported 2,499 jobs in WA and 34,295 jobs nationally in 2020.
