That first-ever Spanish Formula 1 Grand Prix at the Madring brought in a staggering €544 million in economic activity, according to a study conducted by PwC and reported by The Race. That initial event supported 10,948 jobs and generated €95m in tax revenue, easily beating expectations across the board.
Now, the numbers behind that financial wave are quite something. According to the grand prix promoter's study, the total economic impact was 16.5% larger than expected, the jobs supported were 23.7% more than anticipated, and the overall tax contribution landed 14.5% higher than predicted. For every €1 of economic activity directly linked to the race, another €4.60 rippled through Madrid’s wider economy. PwC partner Jordi Esteve noted that extensive fieldwork showed grand prix visitors spend more and stay longer than average visitors, helping the city attract high-value tourism.
For a direct comparison, the Barcelona GP generated over €300m in local economic activity in 2024, a figure reaffirmed by Barcelona circuit CEO Pol Gilbert. Other marquee events on the calendar pull massive numbers too, with F1 CEO Stefano Domenicali recently pointing out that the US GP at Austin generated over $1 billion locally in 2026, while the Las Vegas GP has brought in over $3.2bn cumulatively across its three editions. Speaking on the local scale, IFEMA Madrid chairman Jose Vicente de los Mozos highlighted that the Madrid event generated economic activity equivalent to 0.16% of the Madrid Region’s GDP and 0.30% of the city’s GDP.
The weekend drew a total of 353,000 attendees, broken down by a survey of 1,102 face-to-face interviews conducted between Friday and Sunday. International visitors made up 35% of the crowd, with 20% traveling from elsewhere in Spain and the remaining 45% coming from Madrid and its immediate vicinity. Wallet damage was significant for travelers: international visitors spent an average of €2,772 per person, compared to €1,099 for Spanish visitors and €659 for locals, figures that include estimated average ticket prices. International visitors outspent standard international tourists to Madrid by 1.7 times, and domestic visitors spent 3.8 times more than typical domestic travelers in the region. Local digital publication Democrata found that hotel prices averaged €485, marking a 70% spike above normal rates.
Accommodation choices varied, with 49% of visitors staying in hotels, 32% in short-term rentals, and 19% staying with family and friends. Short-term rentals remain a sensitive topic locally after the Spanish government cracked down on Airbnbs in 2025, wiping nearly 66,000 listings and handing the company a €64m fine for illegal listings. Meanwhile, residents living near the Madring also voiced protests regarding noise, environmental factors, and societal impact.
Looking ahead, the track layout at the Madring—built around the IFEMA conference centre—is scheduled to change for 2027 to improve racing quality and overtaking frequency. Fan reception was overwhelmingly positive on the tourism front, however, with 95.3% of international attendees stating the grand prix enhanced Madrid's international image, 98.1% willing to recommend the destination, and 86% expressing a likelihood to return.
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