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Study says Australian motorsport worth $8.6 billion
An Australian study has concluded that motorsport contributes a total of $8.6 billion to the economy each year.
Andrew van Leeuwen
Edited: Nov 15, 2021, 3:23 PM
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The finding was part of a global study run by Ernst and Young, which measured the motorsport industry’s economic value at $3.1 billion in direct output, along with $5.5 billion of indirect output - based on pre-COVID figures.
The study, run based on 2019 data, also attributed 16,900 direct jobs and a further 29,900 indirect jobs to Australian motorsport.
That, combined with 18,900 unpaid officials and volunteers, created a total workforce of 65,700.
Both the economic impact and workforce were from figures combined across various disciplines of sport, with the FIA, Motorsport Australia, the Australian National Drag Racing Association and Karting Australia all involved.
Compared to a similar study conducted in 2014 the economic growth is around $400 million.
“As Australia embarks on its economic recovery, we know motorsport will continue to be an economic powerhouse, creator of jobs and boost for local economies, particularly in rural areas, where many motorsport events take place,” said Motorsport Australia president Andrew Fraser.
“This report provides a detailed analysis of motorsport’s strong economic impact and the importance our sport has on so many people.
“Motorsport Australia is ready to welcome a steady return of participants, volunteers and events in 2022, including bringing through the next generation through development programs like FIA Girls on Track and Ricciardo’s Racers.
“Australia is such a diverse country and we are eager to see more people enjoying more motorsport more often. Sport can bring people together and we’re working hard to embrace those who want to be involved and see the potential to grow these numbers even further by ensuring our sport is welcoming and accessible to all.
“Of course, we also have a responsibility to grow the sport sustainably and safely and that’s why Motorsport Australia will have a strong focus on the environment in the coming years. We need to make sure the sport is safe for those involved, but also safe for future generations by minimising our environmental footprint. We will embrace new technologies and make sure we are ready to regulate and support the future of motorsport.”
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