The roar of Formula One engines finally returned to China after a five-year hiatus; ๐ญ๐ก๐ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง ๐ข๐ฌ, ๐ฐ๐ข๐ฅ๐ฅ ๐ข๐ญ ๐๐ฏ๐๐ซ ๐ซ๐๐ญ๐ฎ๐ซ๐ง ๐ญ๐จ ๐๐ง๐๐ข๐?
The absence of the Grand Prix for five years because of China's strict ๐ป๐ฆ๐ณ๐ฐ-๐๐๐๐๐ policy with heavy lockdowns likely meant a significant loss in moolah for quite a few sectors of their economy. This Chinese Grand Prix was estimated to inject almost USD 700 million into the Shanghai economy in sectors like -
1๏ธโฃ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ - The race attracts over 100,000 international visitors, boosting hotels, restaurants, and airlines.
2๏ธโฃ ๐๐จ๐ฌ๐ฉ๐ข๐ญ๐๐ฅ๐ข๐ญ๐ฒ - Thousands of personnel, including teams, media, and support staff, require accommodation and catering services.
3๏ธโฃ ๐๐ฉ๐จ๐ง๐ฌ๐จ๐ซ๐ฌ๐ก๐ข๐ฉ๐ฌ - Global brands pay millions to be associated with the prestigious event, generating significant revenue for organizers.
While China celebrates its F1 return, Indian fans are still waiting for their turn to see F1 back after its very tiny 3-year stint a decade ago, either at the Buddh International Circuit again, which hosted MotoGP last year, or more likely at a new circuit rumored to be built in Gujarat.
Though, before we dream about all that, there are a few things we need to figure out to successfully host F1 races again, following the 2011-2013 run -
1๏ธโฃ ๐๐ข๐ฌ๐๐ ๐ซ๐๐๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ง ๐ญ๐๐ฑ๐๐ฌ ๐๐๐ญ๐ฐ๐๐๐ง ๐ญ๐ก๐ ๐๐ญ๐๐ญ๐ ๐๐ง๐ ๐๐๐ง๐ญ๐ซ๐๐ฅ ๐ ๐จ๐ฏ๐๐ซ๐ง๐ฆ๐๐ง๐ญ๐ฌ, with F1 being classified as entertainment instead of sport, made organizing races challenging.
2๏ธโฃ With ๐ก๐ข๐ ๐ก ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐จ๐ฌ๐ญ๐ฌ already posing a challenge, logistics just didn't make much sense.
I guess, that's why the rumors of the circuit potentially being set up in the ๐๐ฉ๐๐๐ข๐๐ฅ ๐๐๐จ๐ง๐จ๐ฆ๐ข๐ ๐๐จ๐ง๐ ๐จ๐ ๐๐๐
๐ ๐๐ข๐ญ๐ฒ make sense. Basically, F1's return to India hinges on recognizing its economic potential in tourism, sponsorships, and attracting investments. What do you think are the chances of seeing some car racing action in India by 2035?
PS - No surprises on who turned up on top yesterday by the way. Lol the hustle for 2nd position has been more interesting since 2021!
#formulaone #maxverstappen #chinesegrandprix #f1 #GIFTcity #indianeconomy
Deputy General Manager-Trade Marketing -India 1@ Haier Appliances India Pvt Ltd| Brand Management, Retail Sell out Management & Operations
3wCongratulations Team India...Proud moment for all of us..