Two studies show that the availability of bike lanes may actually increase the revenues of small businesses.
Back in 2007, US first parking protected bike lanes was put up along 8th and 9th avenue in Manhattan. Since then the businesses near these bike lanes have been doing well. In fact, some businesses near 9th Ave. have grown to as much as 49%- compared to only 3% in the boroughs. This report is according to the research Measuring the Streets
Another research, Consumer Behavior & Travel Mode Choices also reveal that people who drove in Portland,Oregon metro areas spend more money in bars, restos and convenience stores. However, bicyclists visit the same venue more often and therefore spends more as a whole.
Other cities have also showed that there is a positive relationship between economic growth and the presence of bicycling habits. The spokesperson of Bikes Belong, Martha Roskowski, said that when people tend to bike, they also tend to eat, shop and play more locally.