Market

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.

Ever wonder what your favorite players have been up to since retiring from the game? Watch the latest episode of Second Acts, a new series from Front Office Sports, here.


Source link

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *