Formula 1 return projected to boost Madrid economy by 467 million euros

The return of Formula 1 to Madrid is projected to generate an economic impact of 467 million euros for the region. José Vicente de los Mozos, president of the IFEMA Madrid Executive Committee, stated that the Grand Prix is expected to create 10,724 direct jobs and attract thousands of visitors.

According to data, approximately 80,000 of the 120,000 tickets sold have been purchased by people living outside of Madrid, with half being international visitors. This influx is expected to benefit various sectors, including manufacturing, construction, hospitality, and transport. De los Mozos noted that for every euro of direct economic activity linked to the race, approximately 3.9 euros are generated within the broader Madrid economy.