F1 is an industry with rewards

Investing in motorsport is a boost to the economy of the country, creating jobs, courses and hi-tech industries.

I'm all for investment in motorsport infrastructure and Formula One. Together, they act as catalysts for rapid progress and they generate local interest - all of which is good for those of us who want to see a vibrant national racing scene develop in UAE. They also mark the stamp of approval on the sport by the government, and this is crucial if we are to see talented Emirati drivers properly supported in their journey to international stardom.

But still, I think we may be missing a trick. While investment in F1 has already paid off by helping put Abu Dhabi firmly on the global map, I would argue that there is perhaps a bigger prize for the UAE: jobs. Exposure to F1, the pinnacle of high-performance engineering, stimulates enormous interest in those young people with strong technical potential. The F1 in Schools programme is proof of that.

And in the UK, you can go on to study for a national diploma or an honours or master's degree in one of many disciplines surrounding motorsport. Indeed, GulfSport's staff in the UAE includes two motorsport graduates and we regularly provide work experience to undergraduates in their gap year. In the UK, hundreds of newly qualified young people find rewarding careers every year in a niche market that is considered by many to be the crown jewel of its manufacturing sector. According to the Motorsport Industry Association (MIA), the industry supports 4,500 small businesses employing 38,500 people who collectively generate annual revenues equivalent to Dh35 billion. This is clearly an important economic asset.

Not surprising, then, that the UK's House of Commons Business, Innovation and Skills Committee is worried that the country's motorsport industry may lose its current pole position because ministers are not giving it enough support. The MIA believes that other countries envy the success of Britain's industry cluster and have active government programmes to try and capture a share. They are concerned that such countries, often spearheaded by hosting an F1 race, will pose a real threat to their leading position.

This is the trick I believe we may be missing. We have a growing population of ambitious young nationals looking for interesting and rewarding careers in the private sector. If we offer them a similar level of specialised higher education in motorsport and automotive engineering here, I believe we would see the beginnings of a new industry as some of the leading motorsport players perhaps move to the UAE for the availability of qualified people and infrastructure.

This is already happening close to home. Williams F1 has established a technology centre in Qatar for research into the industrial application of KERS-inspired technology and to further its simulator knowhow for race- and road-car use. Formula Gulf 1000 is a series that will act as an incubator for local racing talent. We should also work hard to put the UAE in a position whereby it also produces mechanics, engineers and marketers who can support their compatriots and cement the UAE's position on the global motorsport map.

Barry Hope is a director of GulfSport Racing, which is seeking the first Arab F1 driver through the FG1000 race series. 

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