FIA reveals 'remarkable' 160 billion euro motorsport impact
The FIA has revealed the findings of a key study that shows the motorsport industry produces 159.2 billion euros of business in to the world economy, with an extra injection of 66.9 billion euros overall.
Motor racing’s governing body commissioned EY-Parthenon to measure the economic and social impact of the motorsport industry in a bid to find out how important it was.
Its findings were published at the FIA Conference in Monaco on Tuesday, with the huge figures also including reference to the 1.5 million jobs that are involved in the motor sport industry.
The key findings from the survey were:
- €159.2B Total annual gross output
- €66.9B Total value added
- 1.5M Total paid jobs - The number of paid jobs (full time, part time and casual) directly supported by the motor sport industry
- 302,000 Formal (unpaid) officials, marshals and volunteers
- 2.7M Motorsport participants (competitors’, ‘officials, marshals and volunteers’)
- 60,700 Events
- 7,200 Facilities, tracks and venues
- 21,600 Local motorsport tracks
EY-Parthenon relied on market research from 20,000 surveys completed by participants, which included local clubs, venues, commercial rights holders, promoters, team managers, and other FIA parties.
FIA president Jean Todt said the findings of the survey were ‘remarkable’ in highlighting just how big the influence of the motorsport industry was worldwide.
“This report reveals that motorsport industry represents 160 billion euros total annual gross output and 1.5 million total paid jobs,” he said.
“This is remarkable and it demonstrates that our sport efficiently contributes to the rebound of the economy in COVID-19 times. I thank EY-Parthenon, our Member Clubs, FIA championships promoters and all those who have participated in this global interest study.”
The figures are especially interesting considering how motorsport was forced to come to a halt during the coronavirus lockdown, but was able to get itself back on its feet in the middle of last year.
Related video
ROC Sweden sets February date for snow-based event, announces Ekstrom
Magazine: Austrian GP review, Hamilton's new F1 contract and more
Magazine: Hamilton's F1 2009 woes retrospective, BMW Motorsport at 50
Lewis Hamilton’s struggles with mediocre Formula 1 machinery in 2009 and 2022 are compared in this week’s Autosport magazine, out today (11 August).
Rodin reveals more details about 'F1-beating' hypercar
More details have been revealed about Rodin’s new closed-cockpit FZERO hypercar, which it intends will offer greater performance than Formula 1 machinery.
Magazine: F1 Hungarian GP review, FE London and BTCC Knockhill
Last weekend's Formula 1 Hungarian Grand Prix, featuring another Ferrari clanger and Max Verstappen victory, is our focus on the cover of this week’s Autosport magazine, out today (4 August).
MotorsportDays LIVE reveals date of 2022 show at Silverstone
Motorsport Network is excited to announce that MotorsportDays LIVE will be held at Silverstone on 4-5 November 2022.
Why romanticism isn't the key factor in Lola’s racing return
The iconic Lola name is being relaunched after it was taken over by new ownership. Part of that reboot is a planned return to racing, though the exact details of this are still to be finalised - though its new owner does have a desire to bring the brand back to the Le Mans 24 Hours. But romanticism doesn't appear to be the driving force behind this renewed project...
Rating the best drivers of the century so far
Autosport's Top 50 feature has been a staple of the magazine for the past two decades since its first appearance in 2002. Here are the drivers that have featured most prevalently during that time
The best motorsport moments of 2021
Motorsport produced one of its greatest years of all-time in 2021 despite a backdrop of ongoing COVID-19 challenges and an ever-changing racing landscape. Through the non-stop action Autosport has collected the finest moments from the past 12 months to highlight the incredible drama and joy motorsport generates
The racing comeback artists who resurrected long-dormant careers
Making it in motorsport can be tough, and sometimes drivers move elsewhere before their best chance arrives. Here are some of those who made it back
The hidden racing gem attracting ex-F1 heroes
It’s rarely mentioned when it comes to assessing the best national contests, but the Brazilian Stock Car series that reaches its climax this weekend has an ever-growing appeal. Its expanding roster of ex-Formula 1 names has helped to draw in new fans, but it's the closeness of competition that keeps them watching
The one-time Schumacher rival rebooting his career Down Under
Joey Mawson made waves in the middle of the last decade, beating future Haas Formula 1 driver Mick Schumacher - among other highly-rated talents - to the 2016 German F4 title. A run in F1's feeder GP3 category only caused his career to stall, but now back in Australia Mawson's S5000 title success has set that to rights
The lesson football’s would-be wreckers could learn from racing
OPINION: The greed-driven push for a European Super League that threatened to tear football apart is collapsing at the seams. Motor racing's equivalent, the football-themed Superleague Formula series of 2008-11, was everything that the proposed ESL never could be
The F1 and Indy 'nearly man' that found contentment in Japan
Having had the door to F1 slammed in his face and come within three laps of winning the Indianapolis 500, the collapse of a Peugeot LMP1 shot meant Japan was Bertrand Baguette's last chance of a career. But it's one which he has grasped with both hands