During the inauguration of the Mexico City Pavilion, this Thursday afternoon, the head of government, Clara Brugada, highlighted that the Mexican Grand Prix Formula 1scheduled for this weekend, will generate an economic impact estimated at 17,000 million pesos, representing an important economic opportunity for the capital, especially for the tourism sector with a projection of 90% hotel occupancy.
Brugada emphasized that the Grand Prize positions the Mexico City As a destination for international events, which contributes to economic growth and job creation, “the trust we have generated with events like Formula 1 is essential to attract investment and promote tourism,” he stated.
Brugada also reiterated his commitment to continue supporting the continuity of Formula 1 in the capital, collaborating with organizers and business sectors to attract more events of this type without affecting the public budget.
Inauguration of the Mexico City Pavilion.
Economic benefits
During the ceremony, Alejandro Soberón Kuri, president and general director of CIE and the Mexico City Grand Prixhighlighted the economic benefits that Formula 1 has generated for the city.
In 2023, the event left an economic impact of 15,000 million pesos, in addition to the creation of more than 8,000 direct jobs. Since the return of competition in 2015, 120,000 million pesos in benefits have been accumulated for the capital, generating more than 73,000 jobs in total and 2.8 million attendees.
Soberón Kuri also stressed that the Formula 1 has allowed Mexico City to be seen by millions of people around the world, positioning itself as an international promotion platform, “more than 200 countries will witness the broadcast of the race this weekend.”
Inauguration of the Mexico City Pavilion.
He Mexico City Pavilionwhich pays tribute to the producers of Xochimilco and the capital’s transportation infrastructure, is part of the efforts to show the progress and projects for the development of the capital, rescuing cultural identity.
This weekend, from October 25 to 27, the city is expected to receive a massive influx of fans, both national and international. Regarding security during the event, the head of government announced a deployment of more than 2,500 police officers , as well as ambulances and a video surveillance system.
