The economic impact of the Las Vegas F1 Grand Prix will surpass that of the Super Bowl
The Grand Prix in the streets of Las Vegas will take place from November 16th to 18th of the upcoming season. The event is expected to not only create a great atmosphere in the city, but it will also bring a substantial financial benefit to the weekend of racing, according to the Las Vegas Review Journal.
1.3 billion dollars, or 1.2 billion euros, that is the economic impact expected to be generated by the inaugural Grand Prix in the streets of Las Vegas. Out of this amount, more than 900 million will come from expenses made on-site by spectators.
According to the CEO of the Las Vegas Grand Prix, Renee Wilm, approximately 100,000 spectators per day will flock to the event. This year’s race is expected to be mainly composed of American tourists, however, an increasing number of international visitors are expected to attend future races.
« The truth is that we sold so quickly during the first wave that European and Asian fans didn’t even have a chance, due to the time difference, to participate, raises Wilm.
The next ticket sale, however, should fix this, and should start towards the end of February or early March.
Stronger than the Super Bowl
The Grand Prix should have a larger economic impact than the Super Bowl, which will take place in Las Vegas in 2024. At least, that’s what the report by Applied Analysis indicates. The NFL championship game and related events would have an economic impact of $600 million, much lower than Formula 1, which would double the stakes.
At the same time, the Miami circuit presented its new paddock.
