LAS VEGAS (KLAS) — The 2024 Las Vegas Grand Prix added $45 million to the tax base in Nevada, with greater than $15 million of that set to go to varsities, in accordance with an financial impression report.
In line with a launch from the F1 Las Vegas Grand Prix, attendance for race week reached 306,000 individuals, with 175,000 out-of-town vacationers spending on common $2,400 on non-race-related expenditures throughout their go to to the valley.
That quantity is almost twice the quantity a median Las Vegas customer spends, in accordance with a report produced by Utilized Evaluation for Grand Prix officers.
Non-race-related expenditures embrace lodge rooms, meals and beverage, native transportation, purchasing, playing, and leisure. The $2,400 quantity doesn’t embrace the price of race tickets.
In all, customer spending from the occasion totaled $556 million. The whole financial impression of the 2024 race exceeded $934 million.
Spending from the 2024 race generated $45 million in tax revenues for state and native governments. Essentially the most vital beneficiaries of this income had been the state basic fund, the county’s basic fund, and the Clark County College District.
Faculties all through the state are set to obtain $15.5 million of the tax allocation.
In line with a race debrief following the primary Las Vegas Grand Prix, the 2023 race estimated the occasion had a $1.5 billion financial impression on the world, with $77 million in taxes linked to the three-day occasion.
