MADRING exceeds all expectations and delivers an economic impact of €544 million
The return of Formula 1 to Madrid brings together more than 350,000 fans, attracts visitors from around the world, and generates almost 11,000 jobs.
Madrid's impact goes far beyond the racetrack. The return of motorsport’s premier category to the Spanish capital has resulted in an economic impact of €544 million, turning the first Spanish Grand Prix held at MADRING into much more than a sporting event. The figure exceeds initial expectations by 16.5% and confirms the event’s appeal to Madrid’s economy.
The event also left a significant mark on employment. According to a study conducted by PwC, the Grand Prix contributed to the creation and maintenance of 10,948 jobs and generated €95 million in tax revenue.
Much of this success can be explained by the event’s ability to attract visitors. Over the four days of competition, MADRING welcomed 352,618 attendees, with a strong international presence: 35% came from abroad, while a further 20% travelled from other regions of Spain. This influx of visitors filled hotels and restaurants across the region.
International fans spent an average of €2,772 per person during their stay, while daily expenditure reached €591, almost double that of the average international tourist visiting Madrid. They also stayed longer in the city, with an average stay of 4.7 days. Domestic visitors, meanwhile, stayed for an average of 2.7 days, with daily spending reaching €409.
A distinguishing feature of the Grand Prix was its ease of access. Located just five minutes from the airport and fifteen minutes from the city centre, the circuit enabled 86% of attendees to travel by public transport, with 65% using the metro, 21% taking taxis, and 14% travelling by car or private vehicle. Air travel was the most common way of reaching Madrid, particularly among international visitors, while trains and coaches were used to a lesser extent.
MADRING, a major asset for Madrid
The hospitality sector was the biggest beneficiary, generating €114 million, leading the indirect economic impact ahead of manufacturing, which contributed €86 million, and construction, with €51 million. Among visitors travelling to Madrid for the event, almost half chose to stay in hotels, further boosting tourism activity over the Grand Prix weekend.
Beyond the economic figures, the race also helped enhance Madrid’s image on the global stage. 95.3% of attendees believe the Grand Prix improved the city’s international profile, while 98.1% would recommend Madrid as a tourist destination. According to the study, the event is already having an effect: nine out of ten international visitors say they plan to return to Madrid.