With the Austin City Limits Music Festival now in the books, the state capital has turned its eyes on the Formula One (F1) U.S. Grand Prix slated for Sunday at the Circuit of the Americas (COTA).
Austin ABC affiliate KVUE reported that the event is in its 10th year, and at least 100,000 people expected to attend.
"We are about to have the biggest Grand Prix in the history of Formula One," COTA chair Bobby Epstein told KVUE.
According to KVUE, COTA will host a practice round on Friday and a qualifying on Saturday prior to the race.
Epstein told the station that approximately 65% of the attendees hail from outside of Texas, including other parts of the globe, anticipating a much-needed windfall for the Austin economy.
"The direct impact is over $400 million in spending in hotels and restaurants and cars and services, to the indirect impact. And by the time you add up all the economic impact, you're nearing a billion dollars,” he said, KVUE reported.
Austin CBS affiliate KEYE reported that the F1 adds to what’s already an action-packed month for the city.
“Usually, Formula One is our most impactful weekend of the entire year in terms of occupancy and higher rates,” Visit Austin President and Chief Executive Officer (CEO) Tom Noonan told KEYE.
While business travel is still in recovery mode from the COVID-19 pandemic, the station reported, travel experts say that Austin isn’t too far from the end of that stage.
Epstein told KVUE that there’s more to COTA than just sports.
“It is very different than a traditional sports event,” he said, the station reported. “It’s about wandering the villages and displays and entertainment. Wear your walking shoes."
According to KVUE, pop-punk legends Green Day and Top 40 radio staple Ed Sheeran are among the slew of artists that’ll perform during F1.