When the NFL gave Las Vegas the green light to host the Super Bowl in 2024, the city was elated! Finally, Las Vegas would get its chance to host America’s biggest sporting event. But Las Vegas stands to gain far less than your typical American city. It’s F1 – not the Super Bowl – that has the ability to economically transform Southern Nevada.
The last information we can find regarding the economic impact of the Super Bowl in Las Vegas is in 2019. That year, the Las Vegas Convention and Visitors Authority estimated that the game had an economic impact of around $425,000,000 from over 300,000 visitors. 2023 may have been higher considering the huge boon of gambling in town over the last year.
Mind you – that’s not hosting the game. That’s not paying untold millions in security costs. That’s just having people visit the bright lights of Las Vegas to watch the biggest game the NFL has to offer on the biggest screens you’ll find.
The LVCVA estimates that hosting the Super Bowl in 2024 should garner around $600,000,000 in economic impact, although that number seems to be rising by the month. While that’s nothing to scoff at, it is only an increase of $175,000,000 with much higher staffing and security costs.
The Super Bowl is less “super” in Las Vegas… meanwhile F1…
The LVCVA will welcome every dime coming into the city, but it certainly pales in comparison to what the Formula 1 Las Vegas Grand Prix is estimated to bring into the valley.
Estimates are that F1 could bring as much as $1.3 Billion in economic impact. That would be over seven times more than hosting the Super Bowl (versus watching it on TVs) would.
Sure, there are certainly expenses when it comes to hosting F1. Security concerns, the cost to resurface the roads that F1 will race on. But Formula 1 is known to bring a very affluent fan base that is very willing to spend. not to mention when the race is over, everyone gets to drive on that road. and who doesn’t like new blacktop?
It is exciting to finally have the chance to host a Super Bowl in Las Vegas, but when it comes to economic impact hosting F1 for a decade stands to benefit Clark County far more and our engines are rearing for it.