US race a commercial success for Austin
|15 March 2013 by TF1T Staff | M||Tweet
The 2012 United States Grand Prix has been declared a commercial success for the city of Austin and the surrounding Texas state.
A report by Formula Money, which carries out research into the economic benefits of F1, found the race generated upwards of $191 million (£126m) in media exposure for the city.
Of that, roughly 80% was generated through television broadcasts both visually and verbally, whilst mentions of Austin and F1 together in written media equated to the remaining 20%.
Not only did Austin and Texas benefit, but an additional $150 million (£100m) was generated for associated advertisers, ranking first among the 20-races that season.
The inaugural race at the circuit, which saw a return to North America for the first time since 2007, also performed strongly in spectator attendance. 117,430 fans attended on Sunday, making it the second highest attended race day, behind the British GP which attracted 127,000 fans.
It also came third when total spectators over the race weekend are taken into account, 265,500 attended putting it behind Britain and Canada.
The study didn't report on the economic benefits to the city through additional tourism spending.