Las Vegas has huge economic impact after 2023 GP

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F1
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April 1, 2024 4:07 pm

Las Vegas received a huge financial hit with the holding of the 2023 F1 GP. A 113-page document was released by Clark County officials that breaks down the entire race weekend in the city.

In November last year, the category held a race again in the ‘city of sin’. For the first time, F1 was the organizer and promoter of a race, the third in the United States in a single championship.

So, after an in-depth analysis of the event in the city, a document was put together, with data on the financial impact being gathered by the Las Vegas company Applied Analysis.

The report noted that the Las Vegas Grand Prix produced the largest global television audience in the city’s history, making a total impact of $884 million – including $77 million from local fees, the fifth-largest figure ever recorded for a single event in Las Vegas.

Betting and casino companies have come up with some confusing information. While some places indicated an increase in sophisticated customers, while other establishments stated that the large movement scared away the regular clientele.

However, not everything was rosy and there were also some obstacles. The document highlighted several government agencies, police authorities and public works problems – such as water services, firefighters and public transport.

Other data collected were: county employees spent more than 17 thousand hours working at the GP, the road interruption was the most impactful and important, taking nine months to complete and which resulted in the need to divert bus routes, affecting 25 thousand users daily.

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The article is in Portuguese

Tags: Las Vegas huge economic impact

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