The British Grand Prix attracts over 480,000 fans, highlighting its importance within a significant motorsport and engineering ecosystem valued at £16 billion. The industry employs over 50,000 people, with 4,500 companies in the F1 supply chain. Most F1 teams operate from the UK, with new entries like Cadillac and Audi. Innovations from F1 extend to various sectors, improving efficiency in hospitals and public transport. Organizations like the Silverstone Technology Cluster are vital in nurturing this culture of technological advancement.
"According to a report by the Motorsport Industry Association and Grant Thornton, motorsport and engineering services contributed £16 billion to the UK economy in 2023 and employed over 50,000 people."
"Technologies developed for Formula 1 are now being applied in hospitals, airports, and building sites. For instance, McLaren's performance data systems are helping Heathrow improve traffic flow."
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