In 2024, 24 section communities hosted a Formula One Grand Prix. Are their economies benefiting arsenic a result? From Monaco and Melbourne to Abu Dhabi and Silverstone, CNBC explores F1's section interaction successful the last occurrence of "Inside Track: The Business of Formula 1."
Securing a spot connected the coveted Formula One calendar packs an economic punch for its big city.
The astir financially palmy lawsuit to day was the first-ever Grand Prix successful Las Vegas, which generated adjacent to $1.5 cardinal successful economical value, according to section officials.
The figure, which included visitant spending, occupation instauration and taxation revenue, broke section records arsenic good – generating much section and authorities taxes than immoderate different lawsuit successful Las Vegas history.
But communities had been feeling F1's section interaction adjacent earlier it broke into the United States.
"It's a existent changeable successful the limb for the section system here," said Stuart Pringle, CEO of the Silverstone Circuit, location to the precise archetypal F1 contention successful Britain.
Pringle told CNBC's "Inside Track: The Business of Formula 1" that the section assemblage benefits from an further £100 cardinal ($130 million) arsenic a effect of the British Grand Prix.
"Although we are lone a imperishable headcount of 250 oregon truthful radical present astatine the circuit, that scales up astatine its highest to 12,000 radical to present the Formula One British Grand Prix. That is an atrocious batch of further jobs," Pringle said.
The Australian Grand Prix's economical interaction came successful astir 266 cardinal Australian dollars ($180 million) successful 2023, according to EY.
"Melbourne has a estimation of being the lawsuit superior of Australia, and truthful to person a large planetary event, specified arsenic the Formula One, it is thing that we clasp precise beloved to us," said Travis Auld, CEO of Australian Grand Prix Corporation.
"We deliberation it provides tremendous economical interaction to the authorities of Victoria and to Melburnians," helium added.
From Melbourne and Monaco to Abu Dhabi and Silverstone, larn much astir F1's section interaction by watching the video above.
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