A study commissioned by the European Parliament in 2012 estimated that there are over 2.2 billion cycle tourism trips and 20 million over-night cycle trips made every year in Europe. These have an estimated economic impact of €44 billion across Europe.
Another interesting article on the tourism benefits of cycling can be found at http://dirtragmag.com/the-spend-cycle-how-bicycle-tourism-impacts-small-communities/.
The benefits of cycling and walking are plentiful. But equally important, cycling creates employment and drives economic activity. Also check out The EU Cycling Economy, published in 2016 by the European Cycling Federation (ECF).
Caption 3:It is estimated that cycling-related tourism generates over €40 billion across Europe