The Monaco Grand Prix is one of the most popular sporting events attracting tourists in the world. During the four days, all the cameras are turned towards the Principality, not only for the competition but also for the atmosphere and the spectacle that there is around. This year’s not-to-be-missed rendezvous from 24 to 27 May.
Formula 1 is considered to be the premier category of motorsport. Every year, seven million people attend the races and spend much money on it. The Monaco circuit is one of the oldest, designed in 1929, and one of the three most prestigious races in the world. The city welcomes an average of 100,000 visitors each year to this flagship event, attracting more tourists than many other sports such as a rugby world cup, or even a champions league final. However, what makes this race different from all the others?
The only real Grand Prix in town!
Regarding logistics, the Monaco Grand Prix is an exception. Located in the heart of the city, the circuit follows the same routes as those used by motorists all year round. The construction of the circuit begins seven weeks before the start of the competition; only the Casino square is arranged at the last moment so as not to hinder the access of tourists. With the development work, traffic in the city became “difficult,” new signage, blocked roads, the setting up of bleachers, all these factors upset the daily lives of Monegasque residents.
Not forgetting, of course, the massive arrival of tourists: from 35,000, the population rises to almost 200,000 people over a weekend, which has an impact on travel. To avoid these frequent slowdowns, many inhabitants leave the city to find peace elsewhere. Some of them take advantage of this period to rent their apartments. The circuit being in the heart of the city, certain buildings benefit from privileged visibility, for which the tourists are ready to pay very expensive.
The “Monegasque” show and business
Monaco has become the most expensive city in the world. More than a tourist magnet, it’s a fortune magnet! Moreover, attending the Monaco Grand Prix is not given to everyone. The accommodation, the places, and the standard of living, everything is out of price, that makes that this spectacle attracts not only tourists but also much money.
Not far from the circuit, the yachts encumber the port, so much so that many ships anchor offshore. The Hotel de Paris, ideally situated opposite the Casino, is packed. The bars and clubs on the port, off the circuit, also take advantage of their location to make maximum profits, where a place for testing reaches 300€ or more. Around the competition, one breathes luxury, abundance, and a festive atmosphere sometimes takes over the race, which very quickly becomes a pretext to make an escapade in the Principality.