Income from the Mexican Grand Prix
Income from the Mexican Grand Prix, according to official figures, could bring in millions of profits to various sectors of the country. The Ministry of Tourism estimates that income from the Mexican Grand Prix could generate approximately $873 million.
Last year, income from the Mexican Grand Prix was estimated at $750 million.
The Mexico City Grand Prix is expected to bring in significant income, according to data projected by the Ministry of Tourism, especially in the Metropolitan Area of the Valley of Mexico.
Income from the Mexican Grand Prix could result in substantial profits through “media coverage of the race,” ticket sales, as well as consumption and souvenir sales.
According to specialists, these sectors combined are expected to represent $585 million.
Another sector that benefits greatly from the Mexican Grand Prix is the hotel occupancy sector. It is expected that next weekend will see an occupancy rate of 78.8 percent, with approximately 131,996 rooms occupied.
“The City of Mexico has 645 lodging establishments, totaling 53,409 rooms, a calculation based mainly on 5-star hotels with 17,271 rooms, 4-star hotels with 13,305, and 3-star hotels with 10,654 rooms, as well as lower-category 2 and 1-star hotels,” reported the Ministry of Tourism.
-Income from the Mexican Grand Prix: Hotel Sector-
Income from the Mexican Grand Prix through hotel occupancy is estimated to be $175 million, just during the Formula One weekend in Mexico.
The estimates by the Ministry of Tourism also consider an attendance of 400,000 people at the Mexico City Grand Prix, which would surpass last year’s numbers when 396,000 fans attended the Autódromo Hermanos Rodríguez.
On average, both directly and indirectly, the Mexican Grand Prix generates 8,700 direct and indirect jobs in Mexico during the three days of racing held at the Magdalena Mixhuca circuit.
Last year, Mexico City estimated an economic impact of $750 million during the three days of activities for the Formula One Grand Prix.
The Mexican Grand Prix is expected to have an economic impact of $873 million for the country during a weekend where Mexican driver Sergio Pérez is aiming to win the race in his home country for the first time.
Also read: Get to Know the Details of the Mexican Grand Prix.
