Abu Dhabi hopes F1 race to spur economic and tourism growth

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Amid continued efforts to promote tourism to the United Arab Emirates, Abu Dhabi anticipates large economic returns as it hosts Sunday’s Formula One Grand Prix. Arab press reported that over 60,000 spectators are expected to attend this year's sold-out Formula One season-ending world championship race on the newly build, $40 billion Yas Island sports venue.

 “We've had an amazing response locally, nationally and internationally and every ticket has been sold,” Yas Marina Circuit CEO Richard Cregan told reporters. The event will be televised across 188 countries and feature concerts from acts including Beyonce and Aerosmith.

“The grand prix provides a massive opportunity for exposing Abu Dhabi on the world stage,” Lawrence Franklin, the director of strategy and policy at the Abu Dhabi Tourism Authority (ADTA), told The National. Through televising to what generally reaches 55 million viewers, ADTA hopes to boost international tourism.

Moreover, Abu Dhabi is gambling on anticipated economic returns. It hopes to enjoy the same results that Bahrain received after hosting the Bahrain Grand Prix.
 
“The circuit itself pumped US$22.9 million (Dh84.1m) into the local economy through services and suppliers, with 402 jobs created directly and indirectly,” he says. “International visitors in Bahrain spent on average $1,356 a day, with UK tourists spending $1,723 a day. The grand prix, as well as other supporting entertainment events, will draw in first-time visitors to Abu Dhabi and allow them to see what the capital has on offer. It is hoped that many of these visitors will come back,” he added.

As of now, all 16,000 hotel rooms in Abu Dhabi are fully booked for the race. Abu Dhabi authorities hope this will usher in a new tourism era with Abu Dhabi as a new regional tourist Hub.