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.

Study says Australian motorsport worth $8.6 billion

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.”

shares
comments
How to follow the third round of the Le Mans Virtual Series by Motorsport Games, kicking off this weekend on November 13
Previous article

How to follow the third round of the Le Mans Virtual Series by Motorsport Games, kicking off this weekend on November 13

Next article

Why Saudi Arabia is investing so heavily in motorsport

Why Saudi Arabia is investing so heavily in motorsport
Load comments
Rating the best drivers of the century so far Prime

Rating the best drivers of the century so far

Autosport's Top 50 feature has been a staple of the magazine for the past two decades since its first appearance in 2002. Here are the drivers that have featured most prevalently during that time

General
Jan 7, 2022
The best motorsport moments of 2021 Prime

The best motorsport moments of 2021

Motorsport produced one of its greatest years of all-time in 2021 despite a backdrop of ongoing COVID-19 challenges and an ever-changing racing landscape. Through the non-stop action Motorsport.com has collected the finest moments from the past 12 months to highlight the incredible drama and joy motorsport generates.

General
Dec 31, 2021
The racing comeback artists who resurrected long-dormant careers Prime

The racing comeback artists who resurrected long-dormant careers

Making it in motorsport can be tough, and sometimes drivers move elsewhere before their best chance arrives. Here are some of those who made it back

General
Dec 26, 2021
The one-time Schumacher rival rebooting his career Down Under Prime

The one-time Schumacher rival rebooting his career Down Under

Joey Mawson made waves in the middle of the last decade, beating future Haas Formula 1 driver Mick Schumacher - among other highly-rated talents - to the 2016 German F4 title. A run in F1's feeder GP3 category only caused his career to stall, but now back in Australia Mawson's S5000 title success has set that to rights

General
May 20, 2021
Why Todt’s FIA successor could be cut from the same cloth Prime

Why Todt’s FIA successor could be cut from the same cloth

Jean Todt has signalled that he will not stand for re-election as FIA president. Mark Gallagher analyses the strong credentials of one potential successor…

General
May 2, 2021
The lesson football’s would-be wreckers could learn from racing Prime

The lesson football’s would-be wreckers could learn from racing

OPINION: The greed-driven push for a European Super League that threatened to tear football apart is collapsing at the seams. Motor racing's equivalent, the football-themed Superleague Formula series of 2008-11, was everything that the proposed ESL never could be.

General
Apr 21, 2021
The real-life racing rogues stranger than fiction Prime

The real-life racing rogues stranger than fiction

The forthcoming Netflix film linking the world of underworld crime and motorsport plays on a theme that isn't exactly new. Over the years, several shady figures have attempted to make it in racing before their dubious dealings caught up with them.

General
Jan 31, 2021
The cherished curios kept by motorsport's professionals at home Prime

The cherished curios kept by motorsport's professionals at home

Keeping trophies and momentos of key triumphs is par for the course for motorsport professionals, but what are the most cherished souvenirs picked up by the drivers and engineers who have seen and done it all?

General
Dec 26, 2020