The motorsports industry continues to be a commercial engine.  This month we will take a look at influence from a global perspective.

Founded in 1914, the Federation Internationale de l’Automobile (FIA) represents the interests of motoring organizations, governs racing events and supports with road safety. 

The FIA has approximately 245 member organizations from 146 countries representing 80 million road users.

The Automobile Competition Committee for the United States (ACCUS) is a National Sporting Federations Authorities, also known as ASNs, and is the US representative to the FIA.  Its members clubs include IMSA, IndyCar, NASCAR, NHRA, SCCA and USAC.

The FIA recently released a report at the World Motor Sport Council on the contribution of motorsport to the economy and community development throughout the world.  It is first study of its kind on a world-wide basis.

This analysis was prepared by the consulting firm, EY Parthenon and centered on the 2019 calendar year.  It did not estimate the impact of the shutdown during the pandemic.

Extensive research included surveys, utilization of existing data sources and discussions with key industry stakeholders.

The key findings underscored the significance of the motorsports to the world economy.   

Motorsports generates almost 160 billion euros in total gross output annually and 1.5 million total paid jobs are directly supported by the industry in 2019.

There has been a growth of 90% since the last industry estimate in 2007. 

The euro exchange rate was about $1.15 during the 2019 study period. 

This activity is supported by the breadth of motorsports.  There are over 2.7 million participants active at over 60,000 events utilizing over 7,200 venues. 

The direct impact of motorsports represents actions generated by participants, governing bodies, local clubs, facilities, events, teams and auto related businesses. 

There was 59.2 billion euros in gross output each year and another 25.0 billion euros in value added goods and services.

The total output of the motorsports industry includes both direct and indirect impacts. 

Direct reflects spending on  services (51%), advanced manufacturing and services (36%) and other types of manufacturing (13%). Indirect includes the “multiplier effect” of additional consumption and spending on hotels, meals, wages, non-related items.

The study reflected both the paid and unpaid nature of motorsports employment. 

There are about 1,500,000 direct and indirect jobs that receive a paycheck from the industry.   

A special and unique characteristic of racing involves almost 302,000 officials, marshals and volunteers that assist at events.  Their contribution is valued and critical to the successful operation of the industry.

The are almost 2.7 million participants in motorsports on a world wide basis.  This is broken down into – competitors (34%), officials and those who compete (12%), and non-competing club members (55%).

This analysis emphasizes the importance of motorsports and its contribution the global economy thru business and employment opportunities.