A Decade of Success
The Mexico Grand Prix marked a decade of thrilling races, celebrating its 10th anniversary in style. Despite initial worries about the impact of Sergio
Perez's absence, the event saw a complete sellout, highlighting the race's established reputation and the enduring passion of its fans. The race's promoters, CIE, expressed immense happiness in their continued partnership, extending to 2028. Conversations are planned to commence early next year with the aim of securing a longer-term agreement, intending to have discussions early next year about the longer term, keeping a vision of being three to five years ahead. This foresight and commitment to the future demonstrate the organizers' dedication to the sport. This reflects the race's importance within the F1 calendar and its economic success, as the Mexico City race at the Autodromo Hermanos Rodriguez has swiftly turned into an F1 staple.
Fanbase Diversity
The Mexico Grand Prix's success can be attributed to its diverse and expansive fan base. The promoters strategically targeted different segments to reduce dependence on any single group. These efforts included attracting local fans from Mexico City, supporters from across Mexico, and international visitors. The aim is to balance the audience with 33% Mexico City patrons, 33% Mexico patrons, and 33% international patrons. This approach boosted the tourism sector and ensured that the event's popularity was not solely tied to a single driver or region. They have also successfully targeted Canadian fans who have become more hesitant to visit US races given the current political tension between the two countries. The evolution of the audience since 2015, it has changed a lot, as explained by one of the event organizers. They have been learning for 10 years, switching from the hardcore fans to having 'Drive to Survive' and now the F1 movie.
Market Growth Trends
The Mexican market's growth has been remarkable in the last five years, almost tripling the number of tickets sold in the entertainment sector. It is considered one of the top entertainment countries in the world based on ticket volume and performance. The race has also seen a change in its audience demographics, welcoming more women and younger fans. This shift highlights Formula 1's expanding appeal and its ability to attract new audiences. The race's promoters are continuously investing in the 4.4km circuit. With the return of Sergio Perez to the grid next year with newcomer Cadillac, it further excites the fans, with the CEO and managing director of the race's promoter, CIE, expressing excitement. The management and fans are also very keen to keep supporting the event, according to them.
Economic Impact & Outlook
Mexico City's F1 race is not only a sporting event but also an economic success. The promoters are continuously investing in the circuit and working towards long-term agreements. They are aiming to keep the momentum going, with ongoing discussions to extend the current contract beyond 2028. There are also conversations with Audi already, set to be a benefit. The enduring success of the Mexico Grand Prix demonstrates its integral role within the F1 calendar and the positive impact it has on the local economy. The race's promoters have consciously skewed their marketing efforts towards a three-way split between local fans from the capital, nationwide customers and overseas travellers, making themselves less dependent on individual segments, and boosting the tourism sector. The Mexican market has grown tremendously in the past five years in general. The race's strong ticket sales and its dedicated fanbase create a positive outlook for the future, ensuring that the Mexico Grand Prix remains a highlight of the F1 season.
