Every euro invested in active travel produces almost €4 in economic benefits, according to a report commissioned by the National Transport Authority.
It said the benefits include improved health and lower absenteeism rates, more tourism, reduced congestion and thousands of jobs created.
The present value of money to be invested in walking, cycling and wheeling infrastructure from 2021-2030 is €1.97bn and the present value of the benefits it will generate is €7.73bn, the report said.
Those returns come both directly in the form of jobs created, 26,640 during the construction phase of infrastructure, and indirectly through benefits to the wider economy.
The report by Turley Planning Ireland and Arup said commuters benefit by saving money when they can walk, wheel or cycle instead of driving.
Reduced congestion and cleaner air in larger towns and cities also benefits everyone, not just active travel users, the report said.
It added that reduced travel times for commuters also brings economic benefits.
Increasing the number of people using active travel reduces mortality and workplace absenteeism and saves money in healthcare costs, according to the report.
There are also benefits for people's mental health through exercise and more pleasant public spaces.
The report estimated that the cost of one year's investment is fully recovered by the sixth year of the infrastructure being operational.
The CEO of the NTA said continued investment in active travel has knock-on benefits for businesses
Minister for Transport Darragh O’Brien said the report shows the positive financial impact of the significant increase in Government funding for walking and cycling since the start of this decade.
"Choosing active transport modes over private car journeys results in savings for commuters as well as creating and maintaining jobs across various sectors around the country," he said.
CEO of the National Transport Authority Anne Shaw said the report is yet further confirmation that the work the NTA is doing with local authorities is "having a real benefit, not just for the people who are using our enhanced active travel networks, but for the wider economy too".
"From job creation to the knock-on positive effects for other businesses, there are many reasons why continued investment in this area is good for all of us," she said.
The report outlined how the National Transport Authority, from 2021 to 2025, delivered almost 950 kilometres in active travel infrastructure, along with bridges, junction upgrades, school zones and other non-route investments.
It said investment of €290m per year is planned for each year up to and including 2030.
However, it said the real value of that investment is falling as costs rise with construction inflation.
It said there will be an inflation gap of €330m and that sustained investment in active travel infrastructure is required if the full benefits are to be realised.
