The direct and indirect economic weight of motor sport amounts to one and a half million jobs and almost 160 billion euros, according to a study by the Ernst & Young (EY) consultancy for the International Automobile Federation (FIA).
This study, the first of its kind worldwide, was requested in 2019 in the 145 member countries of the FIA and therefore does not take into account the consequences of the covid-19 pandemic.
For Jean Todt, president of the FIA, “it is remarkable and shows that our sport can effectively contribute to the recovery of the economy in this period of the COVID-19 pandemic.”
The global motorsport industry generates a direct turnover of € 59.2 billion, the study presented at an FIA conference in Monaco this week said.
“The direct economic contribution of the global motor sport industry also has an effect on other industries,” explains the study, which in this way adds 99.4 billion euros indirectly, taking as examples the expenses in restaurants of the participants in an event.
The study also counts 576,000 direct jobs and 924,000 indirect ones. (AFP)