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Report claims huge returns on F1 investments
1st October 2008
Formula Money, a recently published report on the finances of Formula One claims that Formula One Grand Prix races provide huge returns for governments that invest public money in staging such events.
Formula Money says that governments around the world invested $275m of public money during the 2007 season and received back $1.52bn into local economies through ticket sales, merchandise and tourism, representing a return on investment of 553 per cent.
According to the report the Japanese Grand Prix gave the best return where an investment of $4m created $70m in revenues to the local area.
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