The Economic Value of the Motor Cycle Industry |
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The MCI commissioned a report by GHK to investigate the economic significance of the UK motorcycle industry. The analysis is based on documents and data and supported by consultations with industry representatives and a survey of motorcycle businesses. The UK motorcycle industry is defined, for the purposes of this study, as comprising the five key sectors of: manufacturing; distribution and retail; repair, servicing and maintenance; sports and leisure; and other support services . Key Economic Benefits • The UK industry generates net sales of almost £5.2 billion • It generates added value of more than £2 billion • In 2008, the industry paid more than £1.2 billion in wages • Tax contributions of more than £1 billion per year • A significant and increasing contribution to exports of £370 million per annum, • Supply chain impacts support an additional £750 million of GVA • The distribution and retail sector has a turnover in excess of £3 billion with added value of £634 million • Motorcycle-related tourism spending in the UK totals £570 million • Motorcycling tourists from overseas spend £17 million on UK trips • Gross added value in the sport and leisure sector is around £238 million • More than 10,000 people are employed in sport and leisure • The finance/insurance sector provides £87 million in tax contributions • The number of licensed motorcycles has increased by 50% since 1999 and 100% since the mid 1990s. • Around 700,000 households in the UK own motorcycles The industry directly employs 65,500 people in more than 6,350 businesses, which is more than each of the following: UK call centres; the market research sector; taxi driving; and libraries, museums and other cultural activities. Article source: MCI Press Office
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