The FIA has announced the results of an international study on the economic and social impact of the motorsport industry, conducted by EY-Parthenon and said to be the first global study of its kind.
With the industry creating a €160bn (US$189bn) total gross output each year, and accounting for 1.5 million paid jobs, the FIA says the study highlights the importance of the motorsport sector and how it will contribute to worldwide economic growth now, and after the Covid-19 pandemic.
“This is remarkable, and it demonstrates that our sport efficiently contributes to the rebound of the economy in Covid-19 times,” said FIA president Jean Todt of the report’s findings. “I thank EY-Parthenon, our Member Clubs, FIA championships promoters and all those who have participated in this global interest study.”
Following extensive primary market research, the study was compiled using 20,000 surveys filled out by motorsport participants that included national promoters, venue operators, global commercial rights holders, world and regional championships, a consultation of over 50 industry stakeholders and many more.
The study found the following:
- €159.2bn (US$188.3bn) total annual gross output.
- €66.9bn (US$79.1bn) total value add.
- 5 million total paid jobs.
- 302,000 formal unpaid officials, marshals, and volunteers.
- 7 million motorsport participants.
- 60,700 events.
- 7,200 facilities, tracks, and venues.
- 21,600 local motorsport clubs.