It was an unforgettable experience to attend the Formula 1 Pirelli Italian Grand Prix 2024 for the 335,000 spectators who over the three days of the event, from August 30 to September 1, reached the Monza National Autodrome. This is what emerges from the data of the study presented today in the Council Chamber of the Municipality of Monza by the sole director of the company JFC , Massimo Feruzzi, to whom the Municipality of Monza had commissioned a special survey on the direct, indirect and overall induced economic impact that the event generated on the territory.

Among the sampled spectators-more than 3,000-the average rating on the organization of the big event is 5.3 on a scale of 7, and rises to 5.7 when it comes to giving an overall rating to thecity experience.

Overall, moreover, 48.3 percent of respondents said they were already planning to return to Monza for the 2025 Grand Prix.

The provenances. At the 2024 edition of the Italian Grand Prix , 64.3 percent of the guests were from abroad, representing as many as 69 nations: first on the list was France (13.4 percent) followed by Switzerland (11.3 percent), the United Kingdom (10.7 percent), Germany (5.6 percent) and Poland (4.9 percent).

As for Italian viewers, the main regions of origin were Lombardy with 17.1 percent; Tuscany with 14.7 percent; Lazio with 12.7 percent; and Emilia Romagna with 11 percent.

Viewer sketch. The average age was found to be about 37 years old, with a large presence of under-30s (38.7%) but also over-50s (26.2%). As many as 38.7% were families with children and 25% were groups of friends.

Among the viewers surveyed, 43.7 percent said they found information about the major automotive event online, while 20.6 percent said they were interested in it after hearing the information through the mass media. 55.3 percent of respondents reached Monza by car and 20.5 percent by train. An additional highlight is the loyalty of many fans to the event: almost one-third of respondents (30.5 percent) who attended the last edition said they also attended the 2023 edition.

The GP engine of tourism. The survey also focused on the impact the event had on tourism in the narrow sense: 42,551 arrivals in the territory with an average stay of 2.97 nights and 126,375 total tourist presences . Compared to the total turnover for the accommodation sector, 31.1 percent involved the MB province, while the remaining 68.9 percent involved territories outside the province.

An economic spillover of about 340 million. According to the survey, which in addition to the impact on visitors explored and deepened the economic spillover, the total benefits of the event amount to more than 339 million euros, of which more than 99 million consisted of direct benefits by adding up ticket, food, hospitality and trade expenses. Indirect benefits, estimated at more than 28 million euros, concern event organization, goods and services of local companies, public transportation, territorial services and indirect effects; induced benefits, amounting to 21 million, include increased labor force, new spending in the territory and other general effects; nearly 31 million are estimated for supply chain legacy, while media coverage and brand enhancement, based on the presence of the event on communication channels raises the media coverage value and brand enhancement to a total value of 160 million euros.

“The 100 million euros of direct spillover to the entire supply chain of companies involved in the event represents the most interesting economic figure, as these are immediate receipts ,” says Massimo Feruzzi, CEO of JFC, “ and it is also evident that the 340 million euros of total economic benefits are a blatant representation of a management structure that is certainly complex, but at the same time highly performing for the territory’s production system.

The survey method. The Grand Prix spectator experience part of the survey was conducted by both intercepting opinions via questionnaire during the event and reaching out to online visitors after the three days. Specifically, 820 interviews were obtained through detectors/hostesses present inside the Autodrome with a QR-code reporting to the online questionnaire. Another 291 people were intercepted, also during the event, through 15 thousand flyers and 100 posters bearing the QR-code. As many as 2,131 interviews, finally, came from the post-event mailing of the questionnaire to the e-mail address of all those who purchased admission tickets. Also for the surveys on economic fallout, JFC made use of questionnaires directed to representatives of the hotel and non-hotel system of Monza, the Monza province, Milan and province and the provincial territories of Como, Lecco, Varese, Bergamo and Cremona; to stores, restaurants and public places in the food and beverage chain of local commerce; to companies that supplied goods and services to the Autodromo; and to tour operators and travel agencies that did business for the event.

“The Italian Grand Prix is a well-established international event for Monza: an appointment not only for our city but for the entire territory,” explains Monza Mayor Paolo Pilotto. “The organizational effort required by an international sporting event such as the Grand Prix demonstrates the ability of public bodies to know how to support the expectations of the many people who come to our city over the three days.”

“These data,” stresses Tourism Councillor Carlo Abbà. highlight, on the one hand, the extreme relevance of the Monza Grand Prix as an event capable of attracting tourists and visitors to Monza and, by extension, to all of Lombardy. On the other, given the results of the survey carried out among spectators, it is clear that the organization of the event and the city’s hospitality satisfied most of those who experienced the GP days, highlighting how the Autodrome, the Park and the city are capable each year of welcoming more than 300 thousand guests over three days, guaranteeing a unique experience at all times.”

Councillor Abbà also stresses that an experience of this magnitude requires stability in order to grow further, identifying new development potential: “We are focusing on Villa Reale and the Park as driving engines of our attractiveness, stimulating useful synergies with different players in the area .”

“The Autodromo Nazionale Monza is extremely proud of the results of the study on the induced activities of the F1 Italian GP, commissioned by the City of Monza, which highlights what is the importance of the circuit for the local economy and beyond,” commented Giuseppe Redaelli, president of Autodromo Nazionale Monza -. These results, although encouraging, represent not a point of arrival but the beginning of a promising phase of cooperation with the institutions, which began in 2024. This renewed form of cooperation will have to see us strongly committed to addressing new requirements that are increasingly essential and challenging, aimed from the outset at consolidating the presence of the Formula 1 Grand Prix in Monza, with a prospect of six years of competition with the most accredited promoters in the world.”

(Source City of Monza)