The motorsports industry\ncontinues to be a commercial engine. \nThis month we will take a look at influence from a global perspective.<\/p>\n\n\n\n
Founded in 1914, the Federation\nInternationale de l\u2019Automobile (FIA) represents the interests of motoring\norganizations, governs racing events and supports with road safety. <\/p>\n\n\n\n
The FIA has approximately 245\nmember organizations from 146 countries representing 80 million road users. <\/p>\n\n\n\n
The Automobile Competition\nCommittee for the United States (ACCUS) is a National Sporting Federations\nAuthorities, also known as ASNs, and is the US representative to the FIA. Its members clubs include IMSA, IndyCar,\nNASCAR, NHRA, SCCA and USAC.<\/p>\n\n\n\n
The FIA recently released a\nreport at the World Motor Sport Council on the contribution of motorsport to\nthe economy and community development throughout the world. It is first study of its kind on a world-wide\nbasis. <\/p>\n\n\n\n
This analysis was prepared by\nthe consulting firm, EY Parthenon and centered on the 2019 calendar year. It did not estimate the impact of the\nshutdown during the pandemic.<\/p>\n\n\n\n
Extensive research included\nsurveys, utilization of existing data sources and discussions with key industry\nstakeholders.<\/p>\n\n\n\n
The key findings underscored\nthe significance of the motorsports to the world economy. <\/p>\n\n\n\n
Motorsports generates almost\n160 billion euros in total gross output annually and 1.5 million total paid jobs\nare directly supported by the industry in 2019.<\/p>\n\n\n\n
There has been a growth of 90%\nsince the last industry estimate in 2007. \n<\/p>\n\n\n\n
The euro exchange rate was\nabout $1.15 during the 2019 study period. \n<\/p>\n\n\n\n
This activity is supported by the\nbreadth of motorsports. There are over\n2.7 million participants active at over 60,000 events utilizing over 7,200\nvenues. <\/p>\n\n\n\n
The direct impact of\nmotorsports represents actions generated by participants, governing bodies,\nlocal clubs, facilities, events, teams and auto related businesses. <\/p>\n\n\n\n
There was 59.2 billion euros in\ngross output each year and another 25.0 billion euros in value added goods and\nservices. <\/p>\n\n\n\n
The total output of the\nmotorsports industry includes both direct and indirect impacts. <\/p>\n\n\n\n
Direct reflects spending\non services (51%), advanced\nmanufacturing and services (36%) and other types of manufacturing (13%).\nIndirect includes the \u201cmultiplier effect\u201d of additional consumption and\nspending on hotels, meals, wages, non-related items.<\/p>\n\n\n\n
The study reflected both the\npaid and unpaid nature of motorsports employment. <\/p>\n\n\n\n
There are about 1,500,000\ndirect and indirect jobs that receive a paycheck from the industry. <\/p>\n\n\n\n
A special and unique\ncharacteristic of racing involves almost 302,000 officials, marshals and\nvolunteers that assist at events. Their\ncontribution is valued and critical to the successful operation of the\nindustry.<\/p>\n\n\n\n
The are almost 2.7 million\nparticipants in motorsports on a world wide basis. This is broken down into \u2013 competitors (34%),\nofficials and those who compete (12%), and non-competing club members (55%).<\/p>\n\n\n\n
This analysis emphasizes the\nimportance of motorsports and its contribution the global economy thru business\nand employment opportunities. <\/p>\n","protected":false},"excerpt":{"rendered":"
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\u2019Automobile (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 […]<\/p>\n","protected":false},"author":5,"featured_media":864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/858"}],"collection":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=858"}],"version-history":[{"count":2,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/858\/revisions"}],"predecessor-version":[{"id":870,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/858\/revisions\/870"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/media\/864"}],"wp:attachment":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=858"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}