Cycle tourists are increasingly prominent in the profile of world tourism and, in the light of the literature, it is essential, among other things, to examine more closely who they are, what their concerns and motivations are that generate the choice of a cycle tourism product, and, as a priority, the level of economic, social, and environmental impact they cause at destination. In this context, this literature review aims at identifying authors’ and publishers’ interest in cycle tourism, the positive and negative effects of this form of tourism on the economic environment (direct and indirect), as well as effects on the social environment (benefits and potential drawbacks for local communities, along with health benefits for practitioners) and, last but not least, the degree of vulnerability to economic crises generated by travel restrictions. The conclusions reported in this article, as they have been drawn from analyses and examples of best practice, based on natural and anthropogenic geographical conditions, will be prioritised as future research directions. The usefulness of this approach lies in the information with significant applied and novelty aspects, addressed to local, regional, and national authorities, cycling and cycle-tourism associations, and various private interested enterprises, with a view to promoting cycling for recreational purposes and implementing cycling/cycle-tourism infrastructure as a sustainable way of developing small towns and rural areas with tourism potential.