Study shows Extreme E’s economic impact on Scotland for Hydro X Prix
August 15, 2023
YouGov Sport has published its Economic Impact Study for Extreme E’s Hydro X Prix held in Scotland back in May, which has revealed the championship’s positive financial impact on the area.The Economic Impact Study shows that the series’ Hydro X Prix contributed a £31.06m total economic boost to Scotland. Extreme E raced in the former open-cast Glenmuckloch mine in Dumfries and Galloway. The former coal mine is to be transformed into a Pumped Storage Hydropower (PSH) plant and wind farm, aligned with the championship’s focus on renewable energy solutions.
The YouGov Sport report measures the economic impact that the Extreme E race contributed to Scotland across all forms of spending. It covers analysis of attendee and organisational spend across the Extreme E race in Scotland, combined with market specific economic factors, tourism and spending factors for the country.Ali Russell, Managing Director at Extreme E, said: “The YouGov Sport Report Economic Impact Study for the Hydro X Prix illustrates the positive financial impact an Extreme E race has had on Scotland, particular to the local economy, which is very satisfying. We are hugely proud that the Hydro X Prix achieved such impactful economic results, and delivered so many wider benefits to the country as a whole. Holding an international motorsport event in Scotland, while raising awareness of the country and Extreme E’s shared commitments to sustainability, renewable energy initiatives and e-mobility, was an ambitious project, but one in which we were able to deliver successfully. Extreme E has asked for a discussion with the government about the possibility of the race returning to Scotland next year. Although other countries are interested in securing a race, this Scottish location is very special and, with some modest investment from government, we could repeat this incredible event.”Scotland’s Cabinet Secretary for Net Zero and Just Transition Mairi McAllan was there to watch one of the two days of racing. At the time she said: “18 months ago world leaders met in Glasgow for COP26, aiming to secure global net zero by the middle of this century. As an off-road rally series which focuses on the promotion of electric vehicles and clean energy innovations, the former mine was the perfect natural amphitheatre to showcase the necessary industry transition to move from fossil fuels to clean energy futures, and the central role Scotland wants to play in that just transition.” As part of its environmental legacy initiative, the all-electric off-road racing series began a multi-stage project to mitigate the effects of climate change on local salmon stocks. Partnering with the Nith District Salmon Fishery Board, the aim is to reverse the impact of climate change through community engagement, education, and the application of science.
The UK Government’s Secretary of State for Scotland Alister Jack also attended one of the two race days. He said: “Scotland’s green energy potential is at the heart of the UK Government’s plans to deliver energy security, drive investment and grow the economy by developing clean domestic power sources. “From the carbon capture sector where we are progressing at pace and investing up to £20 billion to help decarbonise our industries, to offshore wind, funding for low carbon hydrogen projects, and making the Contracts for Difference round an annual event, Scotland is a key part of the UK’s net zero plans and helping to boost economic growth through green jobs. I’m also pleased that Extreme E is helping the long-term transformation of the River Nith area that will help protect wild Atlantic salmon stocks.”Extreme E also collaborated with Official Technology Partner Vodafone Business, who are using the pioneering championship as a testbed for innovation. The sensors put in place on the River Nith, which are monitoring temperatures, acidity levels and pollution levels in the water, play a crucial role in the wider Legacy Programme. From the impactful planting of over a thousand native trees, to using innovative technologies implemented by Vodafone Business, Extreme E is focussing on a long-term transformation of the River Nith area that will protect the Atlantic salmon stocks and biodiversity in the region.YouGov Sport’s economic impact analysis for the Hydro X Prix was carried out using the eventIMPACTS methodology, an approach that has been developed by the UK Department for Culture, Media and Sport.