F1 and the World (Part 2) - The Economy
- Length: 3:32
- Size: 3.3 MB
- File: world2.mp3
- Transcript: world2.pdf
- Torrent: Coming soon
Welcome to Sidepodcast, this is a mini series dedicated to looking at how F1 fits into the world around it. Today we’re going to take a closer look at F1 and the Economy.
Spending a few millions on a racetrack may seem like a barmy idea if you’re a government minister with a limited budget. But the phrase “speculate to accumulate” has never been more true, and if Formula 1 comes to town it can generate quite a few billion in extra revenue for the tourism industry.
Formula 1 is a truly global event. It’s watched in over 200 countries worldwide, and 50,000 plus fans come to see races firsthand. Some of those are from the host country, while many others are visitors, tourists or holiday makers.
A new circuit, or redevelopment of an existing one, often includes new hotels, leisure facilities and business parks – and this creates all manner of employment opportunities.
In Dubai, the Formula 1 track has also sparked a sideline in theme parks. A Formula 1 shaped theme park. Think of the revenue, the creation of jobs, and the publicity this will bring to the area. I’ve never had a desire to go to Dubai, but an F1 theme park? Now you’re talking.
