Front Office Sports: Las Vegas Grand Prix expected to generate $1.3 billion, double the Super Bowl’s impact
Formula 1’s Las Vegas Grand Prix will have more than double the economic impact of the Super Bowl, according to a recent analysis.
The F1 race weekend, slated for Nov. 16-18, is estimated to bring $1.3 billion in spending to the city, according to Applied Analysis.
That sum includes a projected $966 million in visitor spending and $316 million in event operations and support.
F1 is constructing a permanent four-story, 300,000-square-foot paddock building off the Vegas Strip.
Organizers are expecting around 100,000 attendees each day of the event, which culminates in a rare Saturday Grand Prix on Nov. 18.
Applied Analysis conducted a similar projection for the 2024 Super Bowl, which will also be held in Las Vegas, and found that the game and associated events would bring a $600 million economic impact to the city.
More for Miami
Meanwhile, organizers of the Miami Grand Prix announced that they had increased the event’s grandstand capacity by 3,000 to meet demand, bringing it to 56,000. Team paddock areas will be located on the Miami Dolphins field, with the track circling Hard Rock Stadium.
The race will be offering “campus pass” general admission tickets that will allow broad access around race areas.
The first Miami Grand Prix in May 2022 drew over 240,000 people to the city.
Read the original article on FrontOfficeSports.com.
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