The 2024 Formula One Las Vegas Grand Prix may not have drawn the same crowds as its 2023 debut, despite seats for the big events plunging 60% as the event drew nearer to the starting date.
However, the smaller attendance rate did not stop Las Vegas Convention and Visitors Authority (LVCVA) president and chief executive officer Steve Hill from continuing to view the event as a win for the city.
However, not everyone regarded the race similarly. For a Vegas Strip Club and other venues that threw “anti-parties” to show discontent regarding the disruption of daily lives amid the much-touted event, the race was quite the opposite.
The F1 Race Keeps Las Vegas in the Spotlight
In a discussion following Tuesday’s LVCVA board meeting, the CEO emphasized that while the numbers showcasing the economic impact of the event are yet to be finalized, it’s certain the race continues to keep Las Vegas in the global spotlight, which is a key factor for the future of tourism.
Hill explained that while “no economic impact numbers” are available for consultation at the moment, they will “certainly” be “lower than they were last year.”
“But it’s still a great weekend,” he explained. “It turns what is one of the slowest weeks of the year into one of the best weeks of the year. But from an economic standpoint, it’s not the same.”
Plans for 2025’s Event
Looking ahead, Hill noted that Formula One officials, resort partners, public works departments, and law enforcement will meet to discuss further improvements aimed at the event in 2025.
One key area for enhancement is reducing the time it takes to set up and dismantle the track infrastructure.
“One of the things that we’ve looked at is potentially adding people and equipment so that we can shorten the timeframe for set-up and the teardown,” Hill explained.
“Some of it is a little bit of the timing of when that happens. Mostly it’s just becoming more efficient with that set-up and teardown,” he continued.
LVCVA’s chief marketing officer, Kate Wik, also took the opportunity to highlight the social media success and global reach of the race, saying that the week-long spectacle captured international attention far beyond the race itself.
“Race week coverage was truly remarkable,” Wik told the board, explaining that between November 18 and November 25, a number of 33,716 total stories were generated on special media.
This resulted in more than 706 billion impressions. “I said it last year and I’ll say it again, there is no larger global spotlight for the destination than F1,” Wik added.
Over 100 events and activities, including F1 team activations, non-race experiences, and a mix of daytime and nighttime parties, kept the level of entertainment sky-high while extending interest well beyond the race itself.
According to the CMO, the respective media impressions had an estimated value of $6 billion for the city, anticipating comprehensive viewership statistics to be available sometime in January.
Some small local businesses complained about reduced accessibility during race week which should have been addressed in more detail.
One public commenter also raised concerns regarding the temporary bridge on Flamingo Road, suggesting it should return to its 2023 four-lane configuration.
The board meeting also introduced two new members. Namely, Las Vegas’ newly elected mayor, Shelley Berkley, was chosen to replace Carolyn Goodman. The latter served for 12 years.
Also, Allegiant Travel Co.’s chief executive officer, Greg Anderson, stepped in for Scott DeAngelo, who announced his resignation in September.
More board changes from Las Vegas and Mesquite are to be expected as new representatives will be appointed.
