Mexico City, March 14th, 2016
Enrique de la Madrid, Mexico’s Minister of Tourism, Alejandro Soberón, President and CEO of CIE and Eduardo Sánchez, Speaker from the office of the President of Mexico, have released the results of the economic impact of the 2015 Formula 1 Mexican Grand Prix. Following the successful return of Formula 1 to Mexico City in 2015, the Grand Prix promoter, CIE, tasked AECOM and Formula Money, two international companies, to determine the economic benefits that the return of the race brought to Mexico.
The study highlighted the following results:
Alejandro Soberón, President and CEO of CIE said: “We are very proud of these results, bringing Formula 1 back to Mexico has given us a lot of satisfaction - in our first year we won FIA and FOM “2015 Best Promoter Award”. We are very pleased to be able to share these results now and to demonstrate that this recognition came with very positive and very real economic benefits for our country. These achievements are made possible because of a successful collaboration between the Government and the private sector. We acknowledge that the challenge ahead over the next four years is significant but we are already working hard to keep continue our current success and bring further positive benefits to Mexico.”
The study highlighted the following results:
- With 336,174 attendees, the Mexican Grand Prix became the second largest attended race in the 2015 FIA Formula 1 World Championship, just behind the British Grand Prix at Silverstone.
- The 2015 Mexican Grand Prix contributed $232.8 million, to the Mexican economy, add this to the $277.8 million of media global exposure, resulting in $510.6 million in economic impact.
- Additionally, and only for 2015, the construction and remodeling of the Autódromo Hermanos Rodríguez contributed with an extra $242.7 million resulting in a total economic impact of $753.3 million.
- During 2015, more than 13,500 jobs were created as a result of the event and generated income gains of over $82.6 million.
- The hotel occupancy during the week of the event generated a sales increase of $19 million in hotel rooms compared to 2014.
- In addition to the event tickets and accommodation costs, foreign visitors spent $14.4 million during their stay.
- The 2015 Mexican Grand Prix was broadcast in 185 countries by 119 TV stations and received 1,550 hours of global coverage.
- The Mexico brand, which was exhibited in the track race signage, represented a total of $45.3 million in media exposure, becoming the country with the second most media exposure in the championship.
- More than 11,000 media clippings were published around the world during the week of the event, hitting almost 2 billion people globally.
- In social media, the study reported that 2,318 million impressions reaching more than 87 million users from around the world. The hashtags #GPMexico and #F1 became global trending topics, resulting in 80% international interaction and 20% national interaction. Users shared over 350,000 pictures during the race weekend.
Commenting on the results, Enrique de la Madrid, Minister of Tourism said: “Here in Mexico, the most important asset that we have is our people; their kindness and warmth are beyond comparison. This is demonstrated every day in world-class events, such as Formula 1.”
