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The Ecosystem of
Cycling

2023 Edition

The Ecosystem of Cycling - 2023 edition

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The bicycle represents the perfect synthesis of innovation, technology, people’s wellbeing and the prosperity of businesses and territories. As a bank that has been at the service of Italian SMEs for forty years, we are fully aware of the importance of a sector, such as bicycle production, that increasingly generates positive impacts on the environment, people and communities

Ernesto Fürstenberg Fassio - Chairman of Banca Ifis

The Market Watch ‘Ecosystem of Cycling 2023’ investigated the evolution of the bicycle sector, giving great importance to the drivers that have made this sector a true excellence of Made in Italy, highlighting an important growth in recent years mainly due to the development of the ebike sector and the recognition of Italian leadership at international level.

Cycle tourism: an incentive for cycling

From the Market Watch developed by the Banca Ifis Research Department, it emerged that the value of expenditure incurred by those who used a bicycle on holiday in 2022 (6.3 million tourists) is estimated at € 7.4 billion, of which € 3.4 billion comes from actual cycle tourism.

The ebike, the bicycle that wasn't there

Creating the perfect match between exercise and discovering the territory is the ebike sector, which has the highest growth rate, fully in tune with the development of sustainable mobility. Pedal-assisted models are conquering Italy and the world: the players in the Italian production sector are more than aware of this, as they are increasingly expanding production capacity dedicated to ebikes and investing in new technologies.

Context

2
billion €

annual revenues in 2022

7,4
billion €

the expenditure generated by holiday cycling

6,3
million

bicycle tourists in Italy

Leaflet

The Observatory of the Ecosystem of Cycling aims to promote a product of Italian excellence that brings with it innovation, sustainability and economic development.

 

For further information

Find out more on The Ecosystem of Cycling.

The Ecosystem of Cycling 2022 Press Release