SÃO PAULO GP 2024 DRIVES ECONOMIC GROWTH AND SETS NEW REVENUE RECORDS
Total economic impact of R$ 1.96 billion and tax revenue of R$ 282.4 million exceed expectations and reinforce the event’s importance for the city. Media exposure value reaches US$ 477.3 million, the highest in São Paulo GP history, with extensive national and international coverage. Attendance at the Interlagos circuit hits a new record of 291,717 people over the three-day event.
São Paulo, November 6, 2024 – Confirmed to remain in the capital until 2030, the 2024 Formula 1 São Paulo Grand Prix broke new records in attendance and economic activity. According to the Getúlio Vargas Foundation (FGV), this year’s event generated an economic impact of R$ 1.96 billion for São Paulo, a 14.3% increase compared to the previous record in 2023. Of this total, R$ 1.18 billion came from direct impact and R$ 776.3 million from indirect impact.
This economic activity resulted in R$ 282.4 million in federal, state, and municipal tax revenue, representing a 9.5% year-on-year growth. With a record attendance of 291,717 people – a 9.25% increase compared to last year – the event involved more than 20,000 professionals and achieved a leverage ratio of R$ 6.99 in the local economy for every real invested.
Held from November 1 to 3, the São Paulo Formula 1 Grand Prix once again established itself as the largest recurring sporting event in the country’s calendar, according to FGV’s survey based on data provided by the São Paulo Tourism Department and the SPTuris Tourism Observatory.
The São Paulo GP generates a positive economic cycle for the city. Direct impacts include spending by the event organizers, sponsors, and attendees. Indirect impacts refer to the economic activity generated throughout the production chain of hosting a Formula 1 Grand Prix. This year, 20,200 professionals were involved in the event – a 19.5% increase from 2023, which had 16,944 people.
“The positive results of the São Paulo Formula 1 Grand Prix reflect the work the city has been doing to ensure that one of the world’s most important motorsport events is firmly established in our sporting calendar. This year, we invested more than R$ 163 million in improvements to the circuit so that fans from São Paulo and beyond always have an experience worthy of the Grand Prix. We are building the three-story Hospitality Center, with capacity for 6,000 people, improving public service infrastructure. We are also constructing a tunnel for truck access without crossing the track, installing solar panels, and making other upgrades. This modernization has made Interlagos one of the city’s major revenue generators, bringing in more funds and creating thousands of jobs,” said Ricardo Nunes, Mayor of São Paulo.
“We at the São Paulo GP organization are delighted to generate economic and social benefits for the people of São Paulo while delivering a high-quality leisure event that attracts thousands of tourists to the city. The GP creates jobs, boosts hotels, retail, and restaurants, and increases municipal revenue. This shows that the GP also impacts the lives of residents who may never attend the race but still benefit from its positive effects,” said Alan Adler, CEO of the São Paulo GP.
Audience Profile
Of the attendees at Interlagos, 70% were from outside the city: 54.2% from other Brazilian cities and 15.8% from abroad; 30% were local residents. Women accounted for 36.9% of attendees. Visitors aged 18 to 29 represented 40.2% of the audience, those aged 30 to 39 made up 31.4%, ages 40 to 49 accounted for 16.1%, and ages 50 to 59 rose from 7.1% to 8.6%. Attendees over 60 years old remained at 3.7%. Of the total audience, 55.6% consider the São Paulo F1 GP the city’s main symbol.
Media Exposure
Beyond its economic impact, the 2024 São Paulo GP achieved media exposure valued at US$ 477.3 million (about R$ 2.58 billion) – a new record for the race – with 80.2% from television broadcasts, 14.6% from digital media, and 5.3% from print media, according to Formula Money. Over the past five years, the accumulated media value generated by the event has reached US$ 1.98 billion, solidifying the São Paulo GP as a major global event.
About the São Paulo F1 GP
The São Paulo F1 GP is the most prominent recurring sporting event in Brazil. As one of the stages of the Formula 1 World Drivers’ and Constructors’ Championship, it is held annually at the Interlagos Circuit in São Paulo. The most recent edition gathered 291,700 attendees over three days and injected more than R$ 1.96 billion into the local economy, creating around 20,000 jobs. Broadcast live to more than 180 countries, it generates US$ 447.3 million in media value for the city. In addition to offering world-class entertainment, the São Paulo F1 GP provides its partners with a powerful platform for brand promotion and engagement. In full alignment with Formula 1 guidelines, the São Paulo GP promotes environmental sustainability, respect for diversity, and social inclusion.
Formula 1 São Paulo Grand Prix 2025
Dates: November 7, 8, and 9
Location: Interlagos Circuit – São Paulo
Official website: f1saopaulo.com.br
Official ticketing: eventim.com.br/f1saopaulo (tickets on sale to the general public starting 11/11 at 12 p.m.)
Press inquiries:
F1 GP São Paulo – Castilho de Andrade / Marília Frias
Email: [email protected]
SECOM – São Paulo City Hall
Emails: [email protected]
Press room: imprensa.prefeitura.sp.gov.br