FIA presents a worldwide study on economic and social impact of motorsport
The Fédération Internationale de l'Automobile (FIA) has commissioned to EY-Parthenon a worldwide study to measure the economic and social impact of motorsport industry. This study highlights the importance of this sport industry, which is evaluated directly and indirectly at 160 billion euros total gross output annually and 1.5 million total paid jobs. It demonstrates that motorsport contributes to the rebound of the economy in Covid-19 times.
This report is available here.
The study relies on extensive primary market research over 20,000 surveys completed by participants - local clubs, venue operators, global commercial rights holders, national promoters and team managers, existing data sources - official FIA data, World & Regional Championships, International Series, FIA graded venues, and consultation of over 50 industry stakeholders.
The study is the first of its kind globally.
The main findings of this research are the following:
€159.2B TOTAL ANNUAL GROSS OUTPUT - The market value of goods and services produced by the motorsport industry plus the flow-on, or multiplier, effects of the direct expenditure throughout the economy. For example, money spent at restaurants by event attendees is allocated between the additional material inputs, food and drink, wages, and profits of the proprietor. Wages spent by the employees of the restaurant (e.g. on household items) circulate the money throughout a broader section of the economy creating indirect benefits.
€66.9B TOTAL VALUE ADD - The market value of goods and services produced by the motorsport industry plus the flow-on, or multiplier, effects of the direct expenditure throughout the economy.
1.5M TOTAL PAID JOBS - The number of paid jobs (full time, part time and casual) directly supported by the motorsport 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 CLUBS
Jean Todt, FIA President, said: “This report reveals that motorsport industry represents 160 billion euros total annual gross output and 1.5 million total paid jobs. 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.”