The Formula One (F1) Chinese Grand Prix drew record crowds over the weekend, another indication the wide-ranging efforts from host city Shanghai to raise its profile as a global sports and event destination are paying off.
The three-day event, which concluded on Sunday, attracted more than 230,000 cumulative spectators, the highest attendance headcount reported by the Chinese financial centre in nearly two decades.
On the opening day, the number of foreign arrivals through Shanghai’s ports exceeded 27,000, a single-day record, according to a report by Communist Party news organ People’s Daily on Monday.
The race was a high-profile opportunity for the city to continue to promote itself as a premier global destination. Shanghai has rolled out numerous initiatives to attract international visitors and stimulate spending, part of the country’s overall campaign to transform its considerable consumer base into a leading economic growth driver.
Post-race data cited by People’s Daily showed that ticket revenue for this year’s grand prix rose more than 30 per cent year on year, with overseas spectators accounting for about 16 per cent of attendees and visitors from elsewhere in China making up about 64 per cent. Most international visitors came from Japan, South Korea, Singapore, Britain, Germany and France.
Formula One, widely regarded as the world’s foremost championship in motorsport, boasts more than 800 million fans globally and one of the largest annual television audiences for a sporting event.
The championship’s globe-spanning races, particularly popular among younger enthusiasts, drive enormous spikes in consumption for sectors such as hotels, transport and dining, making a slot in the F1 calendar a highly sought prize by local governments looking to stimulate consumer spending.
