The economic study conducted by Nielsen Sports Analysis calculated an $83.7 million uplift to the Hyderabad economy as a result of the ABB FIA Formula E World Championship’s debut race in India on Saturday, 11 February.
More than 31,000 people attended or supported the sold-out race event, with the majority (59%) coming from outside of Hyderabad and generating significant inward investment into the local economy. Key highlights of the study include:
- $83.7 million in direct, indirect and induced impact from spending in the Hyderabad region for the 2023 Greenko Hyderabad E-Prix.
- $4.8 million generated from events and activations by teams Mahindra Racing and Jaguar TCS Racing, championship sponsors ABB and DHL, local race partners such as Greenko Group and Jio as well as associations with the Hyderabad E-Mobility Week, organised by the Government of Telangana.
- $4 million spent on hotels and accommodation in the…