A study published in October 2016, Economic and Health Benefits of Bicycling and Walking in Colorado, revealed that the overall health and economic benefits from bicycling contribute $1.6 billion to the state. Of that $1.6 billion, the study attributed $448 million to non-resident tourism spending, and $74 million to resident tourism spending, with an overall estimated bicycle tourism economic impact of $522 million. An older study from April 2000, Bicycling and Walking in Colorado: Economic Impact and Household Survey Results, found that bicycling contributed $1 billion to the state economy, and bicycle tourism and events contributed $250 - $300 million.
The Economic Impact of Cycling in the Pikes Peak Region is a 2015 study commissioned by the Pikes Peak Area Council of Governments and shows that 1) bicycling contributes $28 million per year and 2) bicycle tourism contributes $23 million per year in direct economic impact to the Pikes Peak region. For each dollar invested in cycling, the Pikes Peak region can yield $1.80 to $2.70 in direct economic benefits to the community. Check out this infographic for highlights from the study.