On April 30, authorities of the capital government, businessmen and organizers of the Mexico City Grand Prix announced the renewal of the contract with Formula 1, which guarantees that the “big tent” will be there for at least three more years until 2028.
The Head of Government, Clara Brugada, then highlighted that the date in the capital is not only one of the most important in the calendar of the great category, but it is also a key event to boost the economy, tourism and culture in Mexico City.
According to data from the authorities, in the 2024 edition, the Mexican Grand Prix brought 238,000 tourists, of which 55,000 were foreigners, and this generated a hotel occupancy of more than 90% during the three days of competition and in total, the competition left an economic impact of 19,550.8 million pesos, an increase of 13.5% compared to 2023.
By 2025, the capital government expects a spill of 21,000 million pesos, which means around 7% more than last year; and for the 2028 Grand Prix, it is estimated that it will be 92,000 million pesos.
The 19,550.8 million pesos that were generated last year are broken down as follows, according to data from the Secretariat of Economic Development of Mexico City (Sedeco):
Ticket sales: Ticket sales for the Mexico City Grand Prix in 2024 reached 5,172 million pesos, a sign of the taste of Mexican and foreign fans for this motor sport.
Merchandising y souvenirs: Income from the sale of promotional items and souvenirs is estimated at more than 2,019 million pesos, which speaks of the great positioning of F1, its teams and sponsors in the Mexican market.
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Transmission rights and media coverage: The broadcast of last year’s Mexico City Grand Prix and its coverage in national and international media generated 9,563 million pesos, which shows, without a doubt, that the people who could not go to the Autódromo Hermanos Rodríguez religiously followed this date on the F1 calendar.
Tourism and accommodation: What tourism and hotel occupancy generated in the Mexican capital during the week of this great event was 2,203 million pesos, which puts CDMX on par with any in the rest of the world.
Mobility and transportation: In this sense, taxi services and mobility applications caused a spill of 300 million pesos during the days of the Grand Prix.
Gastronomy: Food and drink in businesses near the Autodromo generated 291 million pesos to the economy, according to Sedeco data.
Benefited businesses: Another important item to highlight is that during last year’s Grand Prix, 225 thousand businesses benefited, in which around 1 million people work.
Notably, these numbers are sufficient arguments to ensure that this motor sport continues with a date on the calendar in Mexico, especially now that the Mexican Sergio “Checo” Pérez returns next year with the new Cadillac team.
“We have important economic reasons why this great city should continue with this event and, beyond the numbers, Formula 1 represents an opportunity to show the best of this city, its dynamism, its warmth, its hospitable vocation,” stressed the local leader.
Likewise, Brugada pointed out that for the extension of the Mexico City Grand Prix contract, the local government does not allocate money from the capital’s taxes.
“This agreement is signed as a commitment between Formula 1 and the capital to ensure the Grand Prix until 2028. We have this great task that we carry out with great responsibility, without allocating taxpayer resources,” he explained.
Another of the architects of F1 having returned to Mexico and currently remaining in force is Alejandro Soberón, general director of the Inter-American Entertainment Corporation (CIE), who during the signing of the agreement recognized the will of the capital’s government to guarantee the holding of said event for at least three more years.
“The fact that this race has been honored on so many occasions by the international community speaks of the Mexican’s ability to show the best of our country,” Soberón timely indicated.
Meanwhile, Stefano Domenicali, president and CEO of Formula 1, celebrated that day that Mexico had renewed the agreement due to its great quality in the organization that has already made this date a global benchmark.
And in case Mexicans want more years of F1 in the capital, especially now that “Checo” Pérez is back, during the signing of the agreement, the head of government announced that next year there could be a new announcement about the extension of the “great circus” contract with Mexico City. All that remains is to wait.
This article was originally published in the special print F1 edition of Forbes Mexico for October 2025.
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