Miami Grand Prix, an economic success worth 350 million dollars

South Florida Motorsports has just released its first report on the economic impact of the Miami Grand Prix. In total, 243 spectators came to Florida and this generated $000 million.

Published on 27/07/2022 à 14:00

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Miami Grand Prix, an economic success worth several hundred million dollars

The Miami Grand Prix brought together a total of 243 spectators. © Photo Florent Gooden / DPPI

After hosting a Grand Prix for the first time in its history in Formula 1 in Miami, it is time for economic assessments. South Florida Motorsports has just released the findings of the first report on the economic impact of the Miami Grand Prix, which reveals that the local economy was “ stimulated by nearly $350 million »

If in the race the spectacle was ensured by the duel between Red Bull et Ferrari, the event succeeded in generating enthusiasm both around the world and in the United States. This is reflected in television audiences. Compared to the 2021 United States Grand Prix, viewership increased by 27% with a total of 23 million Americans watching.

« We are proud to have delivered on Stephen Ross' commitment to impact the local economy and residents of our community, especially here in Miami Gardens, explains Richard Cregan, CEO of the Crypto.com Miami Grand Prix. Our team has worked hard to create a campus and experience unique to Miami's international culture. We look forward to growing the event and the positive impact it will continue to have here for years to come. »

240 spectators over the 000 days of the Miami Grand Prix

But where Miami had pulled out all the stops was mainly to ensure the experience of the spectators on site. During the 3 days of the Miami Grand Prix, 243 spectators gathered around the Hard Rock Stadium. A crowd that helped boost the local economy. On average, Formula 000 fans who made the trip spent $1 during their stay. Total spending generated during the Grand Prix peaks at over $1 million. The report also shows that of the foreigners who came to Miami, the majority of them came from Canada, followed closely by the United Kingdom, Mexico, Colombia and Argentina.

In addition to having the time of a weekend, with all eyes focused on Miami Garden, businesses benefited from this event. In total, the report highlights that more than 3 local workers generated more than $000 million before, during and after the Miami Grand Prix.

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