Mexico City Grand Prix Generates Economic Impact of 19.5 Billion Pesos

The economic impact from Formula 1’s Mexico City Grand Prix reached 19.55 billion pesos, marking a 13.8% increase compared to 2023, announced the Secretary of Tourism, Josefina Rodríguez Zamora.

The official noted that during the automotive competition, held from October 25 to 27, Mexico City’s Department of Economic Development estimated that approximately 225,000 businesses benefited, employing over one million people.

According to the Ministry of Tourism (Sectur), the event attracted 238,000 tourists staying in Mexico City hotels, a 2.8% increase over the previous year, including 55,000 international visitors—up 5.5% from 2023.

Hotel occupancy during the event averaged 79.2%, equivalent to 132,667 occupied rooms, with tourism services and accommodations generating over 2.2 billion pesos in revenue.

Rodríguez Zamora emphasized the importance of hosting international sporting events, like the Formula 1 Mexico City Grand Prix, which reached audiences in over 200 countries with 2,400 hours of global coverage. Other upcoming events include the Major Premier Padel in Acapulco, scheduled for November 25 to December 1, 2024, expected to draw spectators from over 189 countries, further boosting tourism and benefiting the local economy.

In Mexico City, the F1 Fan Zone was set up at Bicentennial Park, where more than 30,000 fans gathered to watch the race.

Nota publicada originalmente en El Heraldo de México.