In 2019, the race meant an economic spill for USD 174.9 million and for the rest of the country the figure amounted to USD 252,368
By Yesme Cortés November 15, 2020 Share on FacebookShare Share on TwitterTweet Share on WhatsAppShare
Hosting a date in the main motoring category meant an economic impact for Mexico City of USD 174.9 million pesos (3,299 million pesos, according to the average exchange rate in 2019) and for the rest of the country USD 252,368 (4.7 million pesos), according to data from the study prepared by Formula Money.
Data related to media exposure were not included in the aforementioned figures.
It should be noted that the economic spill reported in 2019 meant an increase of 7.4% in relation to the 2018 race and was the highest figure recorded for the country's capital. One of the strategies that were implemented was to intertwine the sporting event with the Day of the Dead parade, the first edition was held in 2016.
In five years, the date of the main motorsport category has meant for Mexico City a total of USD 826.6 million (15,857 million pesos), according to data obtained via transparency. The largest amount was reported last year.
Of the 138,435 people who bought a ticket for the Grand Prix of Mexico, whether for one day or three days, 44.6% were residents of Mexico City and the State of Mexico ; 18.3% from the rest of the 30 states of the republic and 5.5% foreigners and the rest is not specified.
The entities with the most representatives were: Jalisco , with 6,078 (the state where the Racing Point driver Sergio Pérez is from); Puebla , with 2,084 and Nuevo León, with 2,019 (the state where the Mercedes reserve driver, Esteban Gutiérrez, is from).
There were fans of all entities, to a lesser extent people from Campeche, Nayarit and Tlaxcala gathered, with less than 200 people.
The average stay of national tourists was three nights, in the case of people visiting for the NFL game they average a stay of five days. Of the people who visited the capital of the country in the last week of October, 76% said that the reason for their visit was the Grand Prix of Mexico; 11% answered vacations and 13% business.
Their average spending, according to the study prepared by AECOM, was 8,650 pesos , of which almost three out of every ten pesos were allocated to accommodation, 21% in food and beverages, the same proportion was allocated to entertainment, 16% in sales and 12% in transportation.
In 2019, 138,435 fans attended the Autódromo Hermanos Rodríguez on race day, who witnessed the victory of Lewis Hamilton, in addition it was placed as the second highest attendance in the 2019 season, the first place was occupied by the Great Britain Grand Prix, with 141,000 attendees.
For the rest of the country, the economic spill accumulated USD 3.5 million in five years (67 million pesos, the exchange rate was taken according to the average reported per year, from 2015 to 2019).
The highest amounts were reported in 2015, with USD 1.6 million (27.6 million) and 2016, with USD 1.3 million (27.4 million), and then the figure decreased for the following years with less than USD 260,000.
It was in August 2019 that the continuity of Mexico in the Formula One calendar was announced, but the contract was negotiated under other conditions (Photo: Mario Jasso / Cuartoscuro)
Mexico has a guaranteed date on the calendar for the next three years, a contract that began to run from this year, but the race had to be canceled due to the coronavirus pandemic. For 2021, the race will be held from October 29 to 31, it is the date number 20.
The study prepared by Formula Money also includes estimates of the impact that the presence of the category would generate, if the next three out of five editions of the projections were taken into account.
For the sixth race, an impact of USD 177 million is estimated for the country's capital , which would mean a rise of 1.2% or USD 2 million more. In the subsequent edition, it is expected to be USD 179 million and for the third year USD 181.3 million. Although it must be remembered that they were scenarios that were raised in a different context than the current one.