YouGov Sport, the international research and data analytics organisation, has revealed its overall assessment of the economic impact of Extreme E’s inaugural event in Saudi Arabia in April, calculating the total to be more than €47 million – the total economic boost the X Prix contributed to the host country.
Using its unparalleled access to industry experts who extract relevant focused insight, YouGov Sport’s findings have concluded that Extreme E provided a strong boost to the local Saudi Arabia economy, particularly the less well-known and relatively underprivileged areas of Yanbu and AlUla.
Both regions directly benefited from Extreme E’s logistical and hospitality activities which were calculated overall as €4.37 million. This accounts for and includes employment of local personnel, transportation to and from the race site as well as local food and beverage provision.
The overall media exposure of the Desert X Prix was in itself a majorly significant factor in the overall economic impact. Thanks to Extreme E’s staggering number of 51 global broadcast markets reaching a global audience of 18.7million, along with its strong media presence, resulted in an unprecedented media value of almost €32 million for the championship.
Ali Russell, Chief Marketing Officer, Extreme E, said: “We are delighted to have received this data from YouGov Sport today – it’s a fantastic result not only for us as a new series, but also for our host venue AlUla, a fledgling area keen to boost its tourism opportunities – an imperative source of income for the people that live there. Not only that, but Extreme E’s legacy and conservation programme in the Yanbu and AlUla areas continues to flourish long after the event itself – so in essence, our event keeps on giving which is one of our main goals.
“Working with YouGov Sport is vital to Extreme E in helping us to understand our consumer and our potential markets which as a start-up is fundamental to our success. What these figures from our inaugural race have shown us is that we are on the right track in terms of our overall strategy, our spend, our environmental activity and messaging. This is critical information not only for us as we move forward, but most importantly for our target audiences around the world, our partners, teams and investors.”
Extreme E has also completed its second and third X Prix events in Senegal in May and Greenland in August. The Island X Prix takes place from 23-24 October in Sardinia, Italy.