In mid-March, I queued for 45 minutes to get into my favourite bike store. Like many Quebecers, I was experiencing the consequences of the explosion in demand. Visit boom of cycling is very real. Moneris reported that spending in bike stores rose by 32% in 2020, and by January 2021 was already showing an increase of 87%. In 2015, our study on The state of cycling in Quebec estimated the bicycle market in Quebec at $500 million. Here are a few examples to illustrate that #Veconomics goes far beyond the industry's retail market.
Bicycles to the rescue of our city centers
In recent weeks, the firm PwC has published a report on behalf of the City of Montreal recommending more bicycle lanes and pedestrian streets to help revitalize the downtown core. Citing examples from around the world, the report explains how cycling infrastructure not only promotes mobility, but also makes living environments more pleasant. At a time when downtowns need to reinvent themselves, making more room for pedestrians and cyclists is a concrete way of enhancing the quality of the experience.
Cycling to attract businesses and young professionals
Major American cities have clearly understood the importance of cycling infrastructure in attracting and retaining talent. Chicago Mayor Rahm Emmanuel (2011-2019) stated in 2012 that a city in favor of startups and the new technology economy could only be pro-bike infrastructure. It's all about the competitiveness of urban centers: today's companies are looking for cities that not only attract talent, but also offer a good place to live.
Cycling to boost personal disposable income
Another aspect of cycling's contribution to the economy that I think is often overlooked is the money it leaves in the wallet. the pockets of bicycle commuters. It's easy to understand that using a bicycle costs less than using a car. When a bicycle makes it possible to avoid buying a car, the sums available to be reallocated to other expenses represent on average some 11,000$ according to CAA-Quebec. Knowing that Quebec doesn't manufacture cars, the next time you see a parking lot full of cars, spare a thought for those who do. Quebec's trade deficit and all that money leaving Quebec.
With municipal elections just around the corner, the question isn't whether or not to invest in cycling. Rather, the question should be «how much is it costing us collectively not to offer cycling as an accessible solution to as many people as possible?»
Jean-François Rheault
president and chief executive officer