Study: Australian motorsport industry worth $6.8bn

FIA, Motorsport Australia, Karting Australia and collaborate on market research.

Study: Australian motorsport industry worth $6.8bn

Getty Images

  • Study measured value of AU$3.1bn direct output
  • Industry generates 16,900 direct jobs

The Australian motorsport industry is worth AUS$6.8 billion (US$4.9 billion), according to a study conducted by Ernst and Young.

The study, conducted based on 2019 data in order to avoid the impact of the Covid-19 pandemic affecting the results, measured the industry's economic value at AUS$3.1 billion (US$2.2 billion) in direct output and AUS$5.5 billion (US$4 billion) in indirect output.

Additionally, the study showed that the Australian motorsport industry is responsible for 16,900 direct jobs, 29,900 indirect jobs and 18,900 unpaid volunteers.

The information for the study was gathered from a wide range of motorsport disciplines in Australia and was supported by various governing bodies and organisations, inclduing the International Automobile Federation (FIA), Motorsport Australia, Karting Australia and the Australian National Drag Racing Association.

According to Motorsport.com, a similar study conducted in 2014 showed that that the Australian motorsport industry was worth AUS$400 million (US$293 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 Andrew Fraser, Motorsport Australia's president.

"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."