Tourist experts believe two Sussex motor racing events could be as successful as the British Grand Prix.

Goodwood's Festival of Speed and Revival meeting, held in July and September near Chichester, are among the most popular motor racing events in the country, drawing tourists from all over the world.

Experts believe their economic worth is on a par with the Grand Prix held at Silverstone in July.

A major study is expected to put an exact figure on their economic impact later this year, not just on the Goodwood Estate but also on the Sussex economy.

Dr Andrew Clegg, tourism course leader at the University of Chichester, believes the Festival of Speed alone is financially as successful as the Grand Prix.

It attracts upwards of 150,000 people each year - roughly equally to that of the British Grand Prix - and attracts high-profile visitors and big spending Formula One teams.

He said: "We know these events are incredibly successful, both for the Goodwood Estate and for the local economy, but the point is no one at the moment knows exactly how successful.

"On ticket sales alone, with 150,000 people each buying a ticket, then spending money at the site, on hotels and accommodation and in the surrounding area, you can see a significant amount of money is being generated."

An army of volunteers will descend on the festival, which is being held on July 7, 8 and 9, to question race-goers about their spending habits.

If it is successful, the same will be done at the Revival meeting.

The estate is co-operating and is providing details of its ticket sales.

A basic weekend ticket costs £88, while others with access to grandstands and paddocks cost more.

But it is the money being spent outside the track that interests the academics.

Dr Clegg said: "The Formula One teams alone, we think, are spending a lot of money on hotels, and others who travel from all over the place are doing the same.

"Accommodation in the area becomes booked up very quickly, so clearly the money is being spent. Then you add in money being spent on food and other things.

"The research will allow us to look at the impact of the two events separately but then we will be able to consolidate the results, to look at the overall economic impact of two major events in the local area."

A large number of jobs are supported by both events.

Stewards, safety marshalls and caterers are among those employed during the festivals.

Being mentioned in the same bracket as the British Grand Prix would be a major vindication for organisers of both race meetings.

The Festival of Speed and Revival meets both started from humble beginnings in 1993, attracting far fewer people than they do today.

Hotel owner Sarah Leeson, from Chichester, said: "It is annual godsend for us because you can guarantee we will booked out for the whole period.

"It's no surprise to me they generate millions of pounds."

Thursday, March 23, 2006