using your figure:
24 cyclist deaths per 5,210,000 hours = 1 person dies every 217,083 hours cycling
31 pedestrian deaths per 20,840,000 hours = 1 person dies every 672,258 hours walking
Statistically, if i rode for 217,000 hours i would die, where as i would have to walk 672,000 hours to die. walking is therefore around 3 times safer than cycling
Yes but it takes you four times as long to walk somewhere as to cycle so you are exposed for four times as long walking making it 30% more dangerous to do the journey by foot rather than by cycle. You seem intent on doing a comparison of two completely different journeys in order to salvage your belief that cycling must be more dangerous. If you want to go somewhere you are safer cycling there than walking there. Period.