Formula E Jakarta Brings Economic Impact of Rp597 Billion: Indef

23 June 2022 21:59 WIB

TEMPO.CO, JakartaHead of the Macroeconomics and Finance Center at the Institute for Development of Economics and Finance (Indef), M. Rizal Taufikurahman, stated that the direct economic impact of the 2022 Formula E race in Jakarta amounted to Rp597 billion.

He explained that the figure was obtained from the calculations of capital expenditure (capex), operational expenditure (opex), commitment fee, ticket purchases, transactions of visitors in MSMEs, and visitors’ expenses.

“The number is an accumulation of direct economic impacts, which we get the proportion from the components we mentioned earlier,” said Rizal in a media presentation at GoWork Plaza Indonesia, Central Jakarta, Thursday, June 23, 2022.

Rizal outlined that the CapEx value reached Rp213 billion and OpEx Rp112 billion, commitment fee 12 million pounds sterling or Rp216 billion, and MSMEs transactions Rp4.54 billion.

Additionally, the purchase value of the international electric car racing event tickets totaled Rp52.4 billion, while visitors’ expenditure hit Rp30.2 billion.

“The direct impact has created significant added value,” Rizal remarked.

As previously reported, the Federation Internationale de I'Automobile (FIA) said that Formula E Jakarta made history for attracting the biggest live audience from a single market. The racing event in Jakarta International E-Prix Circuit in Ancol managed to attract over 13.4 million viewers on live TV broadcasts.

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