Aust Cycling Economy
Treasurer, the Hon. Josh Frydenberg MP launched the WeRide Australian Cycling Economy Report by EY.
The WeRide Australian Cycling Economy Report by EY
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.
Above: L-R Dr Hon. Andrew Leigh MP, Shadow Asst Treasurer Stephen Jones MP, Treasurer Hon Josh Frydenberg MP, Dave Sharma MP, Dr Helen Haines MP, Stephen Hodge.
Watch the launch
If you missed the launch, you can watch it through the links below
Above: the launch of the WeRide Australian Cycling Economy Report by EY was headlined by Osher Günsberg, who did a fabulous job of bringing corporate Australia, the bicycle sector and Parliament together to acknowledge the $6.3 billion contribution of the cycling sector to the nation’s economic life.
Launching the report
The Treasurer, the Hon. Josh Frydenberg MP
The Shadow Assistant Treasurer, Stephen Jones MP
The Parliamentary Friends of Cycling Co-chairs
- Member for Indi – Dr Helen Haines
- Member for Fenner – The Hon Dr Andrew Leigh MP
- Member for Wentworth – Mr Dave Sharma MP
Above: Our Parliamentary Friends of Cycling Co-Chairs are champions for cycling in Parliament. Here Dr Helen Haines MP addresses the launch of the WeRide Australian Cycling Economy Report by EY with Dr Andrew Leigh and Dave Sharma.
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
Above: Osher Günsberg was the perfect host for the Australian Cycling Economy Report broadcast and launch by the Treasurer, the Hon Josh Frydenberg MP.
Key facts from WeRide’s Australian Cycling Economy Report
More 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.
Get your report
The full report will be provided to corporate and supporting partners,
Thank you to our project partners
