The Miami GP is one of the most recent race venues added to Formula 1. Despite being very new, it has been tremendously successful. So much so that it broke all expectations and it also added a massive $449,000,000 to the local economy. Now, after the second edition’s gigantic success, Miami is all set to bolster its 2024 plans by upgrading the capacity, as per Business F1.
The Miami GP was added to the calendar only in 2022 and this year’s race was the second edition. Both races were filled with multiple celebrities as the star-studded affair embraced F1’s newfound American interest.
As many as 270,000 people attended the three-day event around Hard Rock Stadium. This was even 30,000 more than the number in 2022. Therefore, South Florida Motorsport would fancy investing more to fetch even better results.
Why would Miami ramp up its F1 development?
The 2024 Miami GP will see South Florida Motorsport expand the spectator capacity to 100,000 for the three-day event from May 3-5 in 2024. This has come after the two editions of the race have flourished, despite having the Austin race already on the calendar.
According to a research firm named Applied Analysis, it showed the Miami GP helped boost the local economy by a staggering $449 million in just 2023. Furthermore, the visitors who arrive and spend their time in Greater Miami also added an estimated amount of $195 million.
Even though it was a massive hit, the entire affair wasn’t a hunky-dory story. Apart from the resistance from the environmentalists in the region, the GP also received criticism for its Americanization.
Despite the success, Miami GP was full of criticism
The 2023 Miami race received huge criticism for its announcement of the drivers. All the drivers came together to be critical of it as they pointed out the pre-race driver announcement ceremony both in 2022 and in 2023.
The 20 drivers were called out on the racetrack before the start of the race in one-by-one formation. Renowned rapper LL Cool J called their names one by one. Following the conclusion of the race, the drivers called the ceremony a distraction just before the race.
Except for Lewis Hamilton, no other drivers defended this move as they called the unnecessary. Nevertheless, the Miami Grand Prix has proven to be one of the best investments by the F1 Group so far and it will easily remain on the calendar for many years to come.
