CAMS reveals the mighty impact of motorsport

V8 Supercars has welcomed a report into the motorsport industry which pumps a massive $2.7 billion into the Australian economy each year.

The independent report released today was commissioned by the Australian Confederation of Motorsport (CAMS) and compiled by multinational professional services firm Ernst & Young.

V8 Supercars and CAMS have been working together on providing improved facilities for motorsport and genuine pathways for young people to pursue careers within the industry.

"Motorsport is strongly embedded in Australian culture and the report proves the business case is there for us to have world-class facilities which will be used 52 weeks of the year," V8 Supercars CEO James Warburton said.

CAMS commissioned the report last year and President Andrew Papadopoulos is proud to reveal to the Australian public the exciting nature of its contents, which show Australian motor sport to be the silent achiever.

Papadopoulos stated: "We wanted to know what the total impact of the industry is so we can better advocate on behalf of clubs, venues, members, and the industry. CAMS is the administrator, developer, promoter and regulator of four wheeled motor sport in Australia and we felt it was time to finally confirm our long held belief about just how much motor sport matters financially."

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

This report, by respected economic consultants and researchers Ernst & 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.

Motorsport events generated 30 per cent of the motor sport industry's output, namely $0.8 billion in direct industry output, $0.4 billion in value added, and 4888 jobs.

"The figures are extremely impressive," Papadopoulos said. "We knew there was a big industry behind motor sport, we just couldn't put a figure on it. But now we can and the results are outstanding. This report will provide a compelling case about the significance of motor sport to this country, both as a sport and as an industry."

Motorsport 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.

V8 Supercars great Dick Johnson would like to see Australian motorsport benefit from the report and using a team approach.

"I think if everyone works together we are certainly going to achieve more because motor sport is very much a team event," he said.

"There would be an enormous benefit if there was more of an injection of funds into motor sport so we can upgrade facilities to not only go and race but to also train young people."

Australia's Formula 1 star Daniel Ricciardo said it's a sign that Australian motor sport is humming along nicely.

Ricciardo said: "Australian motor sport is doing well but if we can keep expanding it and making it grow through all forms, off track and on track, officials and everything, it will be a good thing."

"The Australia Grand Prix has only recently renewed its contract, so we know Formula 1 will be in Australia for the next few years and V8 Supercars are doing really well so I think the more that can get involved and support, the more strength Australian motor sport will have."

It is the intention of CAMS to share the findings of the report with the Federal Government and State Governments and copies have been dispatched to political power brokers and decision makers to ensure that they are now aware of the impact of motor sport in Australia, an impact which until now, has largely gone unnoticed.

"This report will confirm, not only to government, but the wider community, that motor sport is a great sport and a major contributor to the Australian economy," Papadopoulos said.

FIA President Jean Todt said that whilst there had been Australian Government support to date, it needed to be more aware of the major impact of motorsport.

"In order to get from the grass roots to access the highest categories of motor sport we need to have support from everywhere and I can claim we have already had major support from the Australian Government," Todt said.

"It's what's involved in motor sport... manufacturers, suppliers, sponsors, media. Motor sport is global and it generates a lot of expenditure. I am sure the report will make a strong contribution by increasing awareness of this."

Driver development and has been a focus of CAMS through its driver development program including the CAMS Academy. CAMS has been lobbying government for funds to go towards a CAMS Centre of Excellence, a training venue just as Johnson suggested.

Papadopoulos said the importance of this report and its findings will reverberate around the motor sport industry and should be of benefit to all.

"Grass roots motor sport can be helped with this because they are good numbers. And if we can attract more sponsors and more money into the sport it will grow the sport exponentially so anybody can use this to their advantage," he said.

"This is certainly something to get revved up about. We knew motor sport and our members are huge contributors to the economy through tourism, travel, cars, parts, tyres, attending events, officiating etcetera. But now it's there for all to see."