Victory lap: Formula One generates €300 Million in Barcelona

All eyes were on Barcelona recently when Formula One arrived for another weekend of racing.  While it may have been Lewis Hamilton topping the podium, if the weekend’s economic impact is anything to go by then the Catalan government was the real winner.

Barcelona Grand Prix delivers major economic boost

According to data from Perk, when Formula One is in town hotel occupancy rises by 49 per and flight demand by 17 per cent. Barcelona well exceeded those figures. Demand for accommodation surged, increasing by 62 per cent, as hundreds of thousands of fans travelled for the re-branded Barcelona-Catalunya Grand Prix.

Over the course of the weekend, approximately 300,000 spectators descended on the Montmeló track, with around 125,000 fans attending Sunday’s main race. The event is estimated to have generated an economic impact of around €300 million for the region, supporting approximately 2,700 direct and indirect jobs across hospitality, transport, retail and tourism sectors.

Formula One tourism spending continues to rise

The average expenditure on travel and accommodation per attendee was €814. When combined with the average price of a weekend ticket, which ranged between €400 and €600, the total cost of attending the race came to between €1,200 and €1,500 per person.

The spending power of Formula One fans has become increasingly important for host cities. Beyond racegoers filling grandstands, the championship attracts business travellers, sponsors and corporate guests, creating additional demand for hotels, restaurants and transport services throughout the race weekend.

Montmeló circuit benefits beyond race weekend

The Montmeló racing circuit doesn’t solely depend on Formula One to remain operational. Motorsport activities hosted at the track throughout the year generate around €46 million annually, providing an important source of revenue beyond the Gran Prix.

The circuit remains one of Spain’s most important motorsport venues and continues to attract visitors year-round through testing, racing events and other activities.

What is the future of the Barcelona Grand Prix?

Spain is set to benefit from an even greater influx of visitors and spending when Madrid hosts its own Formula One weekend in September.

While many believed Barcelona’s race could disappear from the calendar, Formula One has confirmed the Circuit de Barcelona-Catalunya will remain part of the championship until at least 2032.

Rather than being dropped, the event will rotate with the Belgian Grand Prix, with races scheduled in Barcelona in 2028, 2030 and 2032. The agreement ensures the city will continue to benefit from Formula One’s economic impact, even as Madrid establishes itself as a permanent fixture on the calendar.