Motorsport Week
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Standings
    • 2023 Formula 1 Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2024 Formula 1 Driver Line-Up
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2023 IndyCar Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2023 MotoGP Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • More
    • IMSA
      • 2023 IMSA GTP Team/Driver Line-up
      • 2023 IMSA Calendar
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
LIVE
No Result
View All Result
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Standings
    • 2023 Formula 1 Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2024 Formula 1 Driver Line-Up
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2023 IndyCar Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2023 MotoGP Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • More
    • IMSA
      • 2023 IMSA GTP Team/Driver Line-up
      • 2023 IMSA Calendar
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

FIA study reveals motorsports €160bn economic impact

by Ryan Wood
2 years ago
A A
0
FIA’s reaction to bendy wing saga ‘not acceptable’ – McLaren

FIA Logo

Share on FacebookShare on Twitter

Motorsports governing body, the FIA, has commissioned a study into motorsports economic and social impact, revealing a total gross output of €160 billion annually.

The study, conducted by EY-Parthenon, found in addition to a gross output of €159.2bn, the sector supported 1.5 million paid jobs and a further 302,000 volunteers.

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 main findings of this research are the following:

RelatedPosts

Magnussen ‘pretty gutted’ with Q1 exit in Spain

Magnussen ‘pretty gutted’ with Q1 exit in Spain

11 mins ago
Leclerc suggests Ferrari F1 car issue behind shock Q1 exit

Leclerc suggests Ferrari F1 car issue behind shock Q1 exit

57 mins ago

€159.2B TOTAL ANNUAL GROSS OUTPUT – The market value of goods and services produced by the motor sport 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 motor sport 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 motor sport industry

302,000 FORMAL (UNPAID) OFFICIALS, MARSHALS AND VOLUNTEERS

2.7M MOTOR SPORT PARTICIPANTS (competitors’, ‘officials, marshals and volunteers’)

60,700 EVENTS

7,200 FACILITIES, TRACKS, AND VENUES

21,600 LOCAL MOTOR SPORT CLUBS

FIA president Jean Todt called the results of the study remarkable: “This report reveals that motor sport 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 full report can be read here.

Tags: F1FIAMotorsport
Share322Tweet201

Related Posts

Magnussen ‘pretty gutted’ with Q1 exit in Spain
Formula 1

Magnussen ‘pretty gutted’ with Q1 exit in Spain

11 mins ago
Leclerc suggests Ferrari F1 car issue behind shock Q1 exit
Formula 1

Leclerc suggests Ferrari F1 car issue behind shock Q1 exit

57 mins ago
Alonso suggests home podium result out of reach
Formula 1

Alonso suggests home podium result out of reach

1 hour ago
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Articles

Leclerc: Every driver would like Hamilton as F1 team-mate
Formula 1

Leclerc: Every driver would like Hamilton as F1 team-mate

June 1, 2023
Magnussen: Perez chicane clash caused by anti-stall
Formula 1

Magnussen: Perez chicane clash caused by anti-stall

May 28, 2023

Upcoming Races

#EventLocationDate
8Spanish GPBarcelona04 June
9Canadian GPMontreal18 June
10Austrian GPSpielberg02 July
11British GPSilverstone09 July
12Hungarian GPBudapest23 July

Click here for the full 2023 F1 calendar

Drivers’  Standings

#DriverPts
Max Verstappen144
Sergio Perez105
Fernando Alonso93
Lewis Hamilton69
George Russell50
Carlos Sainz48
Charles Leclerc42
Lance Stroll27
Esteban Ocon22
Pierre Gasly14

Click here for full Drivers’ Standings

Follow Motorsport Week

Motorsport Week

© 2023 Motorsport Media Services Ltd

Other Links

  • About & Contact
  • Privacy Policy
  • Motorsport Monday

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Home
  • Formula 1
    • Latest News
    • Championship Standings
    • 2023 F1 Calendar
    • Team/Driver Line-Up
    • Session Results
    • Driver Penalty Points
  • Formula E
    • Latest News
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • Session Results
  • MotoGP
    • Latest News
    • Standings
    • Calendar
  • WRC
    • Latest News
    • Standings
    • Calendar
  • IndyCar
    • Latest News
    • Calendar
    • Standings
  • WEC
    • Latest News
    • Calendar
  • Live Updates
  • Other
    • Formula 2
    • Formula 3
    • Moto2
    • Moto3
    • WSeries
    • DTM
    • IMSA
  • Galleries
  • About/Contact
  • Privacy Policy

© 2023 Motorsport Media Services Ltd

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
X