An independent study has quantified the benefits deriving from the organization of the tender in 2022 for consumption, businesses and the media enhancement of the city. For 2023 we are working on the renovation of the racetrack in view of the 70th birthday party
How much is it worth organizing an F1 GP in terms of benefits for the host territory and nation? The Imola racetrack presented research on the impact that the 2022 race had in terms of economic returns for the city and beyond, analyzing the repercussions generated by the presence of around 129,000 spectators over the three days of the event, which took place between 22 and 24 April. Consumption, the activities of the companies involved, employment and the driving force for the automotive sector supply chain and for the enhancement of the image of Emilia-Romagna at an international level were taken into consideration.
The figures
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The expenditure of the participants, for the purchase of goods and services with a direct impact on hotels, restaurants, bars and other activities related to tourism, amounted to approximately 30 million euros. Indirect benefits linked to hospitality, transport and public services amounted to 22.7 million. The induced benefits for employment and work have been quantified at 13 million. Those for the supply chain in 36 million. Finally, the media coverage, between the value of the advertising spaces and the enhancement of the brand, amounted to 172 million. Really important figures, which seem to justify the investment required for the organization of a GP by the Formula One Group, which in the case of Imola is around 20 million euros, a figure in any case lower than that required for many other circuits on the calendar .
raise
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The pandemic in 2020 offered Imola the opportunity to return to the grand tour of F1, after 14 years of absence, thanks to an improvised calendar based on the nations that could allow themselves some openings. But the confirmations in 2021 and 2022, with the subsequent extension of the contract until 2025, have sanctioned the effective return to the scene of a circuit that has marked pages in the history of the Ferrari epic, especially in the years of Michael Schumacher’s triumphs and racing in general. The consideration of Stefano Domenicali, the new president of F1, and the response of the Municipality of Imola, of the president of the Region Stefano Bonaccini, of Formula Imola of Giancarlo Minardi and of Con.Ami, which guaranteed the necessary resources, were fundamental.
Track work
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Now we think about the future. An investment plan is already ready for the redevelopment of the “Enzo e Dino Ferrari” racetrack, whose multifunctional destination has produced other important economic results in 2022 with the Pearl Jam concert and the Crame Exchange Exhibition, for a total of about 450 thousand visitors throughout the year. But F1 is the driving event. And therefore investments will continue to be made in F1, with works to modernize and renovate the track. “2022 leaves us with great satisfaction for the events that have taken place and for the feedback they have had – says Marco Panieri, mayor of Imola – leaving us with an even stronger determination to continue on this front. We have recently defined the interventions structures that the track needs and which will be built in the coming months in line with the needs of F1. We are also working on the events of 2023, which will be the 70th anniversary of the inauguration of the racetrack”. An announced party.
November 30, 2022 – 7:57 pm
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