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Economic Impact of Motor Sport

EY_Social MediaECONOMIC CONTRIBUTION OF THE AUSTRALIAN MOTOR SPORT INDUSTRY

In 2013 CAMS commissioned an independent report into the economic impact of motor sport in Australia, this is a summary of that report.

FOR THE REPORT ON THE ECONOMIC CONTRIBUTION OF THE AUSTRALIAN MOTOR SPORT INDUSTRY CLICK HERE

This study, by multinational professional services firm Ernst & Young, highlights the importance of the motor sport industry to Australia, by estimating the economic contribution, value add and employment of the industry in 2013. This study also estimates other key measures, such as the number of participants, clubs and venues across Australia.

CAMS has always known that motor sport is a significant generator of economic activity, of stimulus to the economy, and as an employer and creator of jobs.

This report, by the respected economic consultants and researchers Ernst and Young, substantiates that view.

The analysis has found that in 2013 Australian motor sport generated $2.7 billion in direct industry output, $1.2 billion in direct value add, and 16,181 direct jobs.

Motor sport events generated 30% of the motor sport industry’s output, namely $0.8 billion in direct industry output, $0.4 billion in value added, and 4888 jobs.

Motor sport is deeply embedded in Australian culture, it adds to community cohesion and development, and is the fourth most watched sport in Australian in terms of spectator attendance, behind Australian Rules football, horse racing and rugby league. Major events like the Formula 1 Australian Grand Prix, WRC Rally Australia and the V8 Supercars Championship make this the case.

This study relies on extensive primary market research (i.e. over 4,300 surveys completed by participants, clubs and category managers), existing primary data sources (e.g. financial statements and database extracts from governing bodies) and consultation with over 40 industry representatives across all elements of the industry.

Note – This study is based on four wheeled motor sport in Australia and does not include motor cycle racing.

 

A promotional video featuring Australian and World motor sport personalities: