Formula E delivers $84m boost to Hyderabad’s economy

Formula E’s first-ever race in India, the 2023 Greenko Hyderabad E-Prix, hosted in collaboration with the Government of Telangana and Ace Nxt Gen, delivered an economic impact of nearly $84 million according to an independent report published today. 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. Formula E’s only double champion, Jean-Eric Vergne, won the highly competitive race, watched live in more than 150 countries around the world and attended by a host of dignitaries, Bollywood celebrities and sports stars. I’m hopeful this will happen and we will race in Hyderabad in early 2024.

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