The European Cyclists Federation coordinates the EuroVelo network which is signed, numbered, mapped, well-promoted and supported by numerous governments across the continent. This economic impact study conducted in 2012 was funded by the European Parliament and shows an impact of 44 billion euros (about $48 billion) from 2.3 billion bicycle tourism trips in Europe (pg 13).
In June 2013, ECF released another study: Calculating the Economic Benefits of Cycling in EU-27 (PDF) which takes into account everyday cycling and its health benefits. A 2016 update to the study, The EU Cycling Economy, concludes that bicycling in the EU contributes an economic benefit of €513 billion (US$544.6 billion), which is more than €1000 (US$1,060) per inhabitant.