The organizers of the Formula 1 Spanish Grand Prix in Madrid have released the first official figures outlining the impact the event is expected to have, not only on the Spanish capital but on the country as a whole.
Madring is preparing to host the Formula 1 Spanish Grand Prix in less than two months, from September 11 to 13, marking the championship’s return to Madrid for the first time in 45 years.
José Vicente de los Mozos, Executive President of IFEMA Madrid, reflected on how the project first came to life. Speaking to AS, he recalled a conversation he had with Luis García Abad at Monza in 2017, when they shared the ambition of bringing Formula 1 back to Madrid.
“The need to think about alternative uses for IFEMA was what sparked this project,” he explained. He also stressed the importance of seizing the opportunity before the Spanish Grand Prix could potentially move elsewhere: “The Spanish Grand Prix was close to leaving, and we had to take advantage of that opportunity.”
During his first meeting with Formula 1 President and CEO Stefano Domenicali, Madrid’s unique strengths were immediately highlighted.
“He told us there were ten cities ahead of Madrid, but we weren’t trying to secure a race—we wanted to offer something nobody else has: an experience.”
De los Mozos then pointed to the features that make Madrid stand out by asking a series of rhetorical questions: “Which circuit can be reached by 80% of spectators using public transport and is only 10 minutes from the airport? Which European capital has a Formula 1 circuit?”
The economic impact
Isabel Díaz Ayuso, President of the Community of Madrid, presented the projected economic benefits of the event: “The Spanish Grand Prix will generate €450 million in economic impact every year and create 8,200 direct jobs across the region.”
Ángel Asensio, President of the Madrid Chamber of Commerce, added that the event would account for “0.4% of the region’s GDP in a single weekend and 4% of the city’s economy.”
De los Mozos also highlighted the impressive figures achieved since the project was officially announced on January 23, 2024: “We’ve generated 73 million impressions. We expect to welcome 350,000 spectators, and we’ve already sold 100,000 tickets, effectively reaching a technical sell-out.”
The event is also attracting strong international interest.
“Thirty-two percent of ticket purchases come from outside Spain, mainly from the United Kingdom, the United States, France and Mexico.”
The hospitality programme will feature 15,000 places—twice as many as any other European Formula 1 venue—while the 3,500-capacity Paddock Club has already sold out. Overall, around 45,000 international visitors are expected, with an average spending of €1,680 per person.
Discussing revenue, De los Mozos added: “Income from ticket sales, hospitality and sponsors already exceeds €137 million, and the target I’ve set for the teams is to finance the circuit infrastructure through sponsorship alone.”
Track testing and driver feedback
The new circuit has already hosted its first on-track activity during Ferrari’s filming day, when Charles Leclerc and Lewis Hamilton completed the maximum permitted 200 kilometres.
Luis García Abad, the circuit’s General Director, shared the drivers’ positive feedback despite the extreme conditions: “The drivers enjoyed it. They were driving with track temperatures exceeding 73°C.”
He also revealed some specific comments from Ferrari’s two drivers: “Charles Leclerc said it will be ‘an incredible qualifying session,’ while Lewis Hamilton complained about the compression.”
De los Mozos also expressed confidence that Fernando Alonso “will be happy to race in Madrid” and reiterated that the FIA had never questioned the feasibility of the project. The long-term objective, he explained, is to make Madring “the benchmark Grand Prix in Europe.”
The venue is also scheduled to host Formula 3 testing during August.
Domenicali’s comments
Stefano Domenicali joined the event virtually and underlined the importance of both Spain and Madrid to Formula 1’s future.
“Spain is a country that embraces sport with enthusiasm and passion, and that’s why we’re incredibly excited to embark on this new adventure. Madrid is a dynamic, international city that attracts talent and looks towards the future.”
He continued: “Formula 1 is experiencing one of the most important periods in its history, and Madrid is the ideal partner to write a new chapter in our journey. I’m convinced that the Spanish Grand Prix will deliver a unique spectacle for fans, an unforgettable experience for visitors, and an important economic, social and cultural opportunity for the region.”
These early figures reinforce the ambition of turning Formula 1’s return to Madrid into one of the sport’s flagship events on the global calendar.
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