'Las Vegas GP economic impact more than a billion'
F1 News
- GPblog.com
Las Vegas is set to host Formula 1 in November. The event should not only create a great atmosphere in the city, but it is also going to benefit substantially financially from the race weekend as reported by the Las Vegas Review-Journal.
The total economic impact of the Las Vegas Grand Prix is reportedly $1.3 billion. Of that amount, 900 million comes from expected spending by visitors. About 100,000 spectators should flock to the circuit each day.
This year, organisers are attracting mainly domestic visitors, but in the coming years, more foreign fans are expected to come to the event. Indeed, after ticket sales started, all spots were sold out so quickly that non-Americans had no chance due to the time zones.
Comparison between F1 and Super Bowl
Should the expectations come true, the GP will have a greater economic impact than the Super Bowl. Indeed, according to calculations, in 2024 it will have an impact of $600 million, which would make Formula 1 beat the Super Bowl by a wide margin.