Motorsport Week
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Standings
    • 2023 Formula 1 Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2024 Formula 1 Calendar
    • 2024 Formula 1 Driver Line-Up
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2023 IndyCar Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2023 MotoGP Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • IMSA
    • 2023 IMSA GTP Team/Driver Line-up
    • 2023 IMSA Calendar
  • More
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Standings
    • 2023 Formula 1 Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2024 Formula 1 Calendar
    • 2024 Formula 1 Driver Line-Up
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2023 IndyCar Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2023 MotoGP Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • IMSA
    • 2023 IMSA GTP Team/Driver Line-up
    • 2023 IMSA Calendar
  • More
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

Local Miami economy boosted by $350m following 2022 grand prix

by Fergal Walsh
1 year ago
A A
1
Local Miami economy boosted by $350m following 2022 grand prix
Share on FacebookShare on Twitter

Miami’s local economy received a significant boost following the city’s inaugural Formula 1 grand prix earlier this year.

The race took place in early May, and was won by Red Bull’s Max Verstappen, with Charles Leclerc and Carlos Sainz taking second and third respectively.

South Florida Motorsports (SFM) has now unveiled the result of the first Economic Impact Report for the race.

It has found the local economy was boosted by nearly $350 million, after the data was compiled by leading economic consultants Applied Analysis. 

RelatedPosts

IndyCar delays hybrid rollout until after Indy 500

IndyCar delays hybrid rollout until after Indy 500

4 hours ago
Wolff would accept repeat disqualification for winning F1 pace

FIA confirm no ongoing investigation into any individual

6 hours ago

The weekend attracted over 243,000 spectators, while 23 million US viewers tuned in to watch it remotely across the weekend.

It found that for those who visited the race, total spending in the Greater Miami region during race week reached over $150 million. 

The average visitor to Miami for the race spent $1,940 while in the city – nearly double the typical non-Formula 1 visitor.

On the build-up and during the event, 3,000 local workers were paid in excess of $100 million in salary.

When operational activities and net visitor spending are aggregated, the overall economic impact reaches $349 million annually.

“We were proud to deliver on the commitment Stephen Ross made to impact the local economy and the people throughout our community; especially right here in Miami Gardens,” said Richard Cregan, CEO of the Miami GP.

“Our team worked selflessly to create a campus and experience that was unique to the international culture of Miami.

“We look forward to growing the event and the positive impact it will continue to make here for years to come.”

Miami signed a 10-year deal to host a Formula 1 race.

Tags: F1MiamiGP
Share473Tweet296

Related Posts

IndyCar delays hybrid rollout until after Indy 500
IndyCar

IndyCar delays hybrid rollout until after Indy 500

4 hours ago
Wolff would accept repeat disqualification for winning F1 pace
Formula 1

FIA confirm no ongoing investigation into any individual

6 hours ago
McLaren wary F1 upgrades could’ve impacted car handling
Formula 1

McLaren wary F1 upgrades could’ve impacted car handling

7 hours ago
Load More

Comments 1

  1. Martin Elliott says:
    1 year ago

    Very interesting, but incomplete.

    How do the viewer/fan numbers compare to any other event for live/delayed watching?

    Then the elephant in the room.
    Costs/profits for FIA, F1, Teams, other series, etc

Upcoming Races

#EventLocationDate
-Pre-Season TestingSakhir 21-23 February
1Bahrain GPSakhir02 March
2Saudi Arabian GPJeddah09 March
3Australian GPMelbourne24 March
4Japanese GPSuzuka07 April

Click here for the full 2024 F1 calendar

Drivers’  Standings

#DriverPts
Max Verstappen575
Sergio Perez285
Lewis Hamilton234
Fernando Alonso206
Charles Leclerc206
Lando Norris205
Carlos Sainz200
George Russell175
Oscar Piastri96
Lance Stroll74

Click here for full Drivers’ Standings

Latest Articles

Wolff would accept repeat disqualification for winning F1 pace
Formula 1

FIA confirm no ongoing investigation into any individual

December 7, 2023
McLaren wary F1 upgrades could’ve impacted car handling
Formula 1

McLaren wary F1 upgrades could’ve impacted car handling

December 7, 2023
Piastri: Norris battle ‘didn’t make sense’ due to ‘significant’ damage
Formula 1

Ricciardo admits first Red Bull return sim run ‘didn’t go well’

December 7, 2023

Follow Motorsport Week

Motorsport Week

© 2023 Motorsport Media Services Ltd

Other Links

  • About & Contact
  • Privacy Policy
  • Motorsport Monday

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Home
  • Formula 1
    • Latest News
    • Championship Standings
    • 2024 Formula 1 Calendar
    • Team/Driver Line-Up
    • Session Results
    • Driver Penalty Points
  • Formula E
    • Latest News
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • Session Results
  • MotoGP
    • Latest News
    • Standings
    • Calendar
  • WRC
    • Latest News
    • Standings
    • Calendar
  • IndyCar
    • Latest News
    • Calendar
    • Standings
  • WEC
    • Latest News
    • Calendar
  • Live Updates
  • Other
    • Formula 2
    • Formula 3
    • Moto2
    • Moto3
    • WSeries
    • DTM
    • IMSA
  • Galleries
  • About/Contact
  • Privacy Policy

© 2023 Motorsport Media Services Ltd

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
X