The economic impact of the Las Vegas Grand Prix extends far beyond just ticket sales. In 2023, the race brought in over $1 billion in revenue for the city, and the 2024 event is expected to have an even greater impact. The race will not only attract international F1 fans but also tourists who are eager to experience the energy of Las Vegas during one of the world’s most prestigious motorsport events. For a deeper look at the financials of the Las Vegas GP, look at the Las Vegas Review-Journal.

From an F1 perspective, the Las Vegas Grand Prix represents a significant shift in the sport’s expansion strategy. Formula 1 has been working to broaden its fan base in the United States, a country that has historically been less interested in motorsport compared to Europe and other regions. With the Las Vegas GP, F1 hopes to solidify its presence in North America and tap into the vast pool of potential fans in the U.S.

In 2024, the race is expected to bring even more attention to the sport, particularly with the rising interest in the younger, dynamic stars of F1 like Max Verstappen, Lando Norris, and Charles Leclerc. With Red Bull’s dominance, Verstappen will likely be the favorite heading into the race, but the high-speed nature of the Las Vegas circuit offers an unpredictable element that could throw up surprises, even with Lando Norris and Max Verstappen being the two main competitors for the driver's championship. According to an article in Sports Illustrated, teams like Ferrari are ready for what Red Bull has to come as they have already broken Red Bulls winning streak.