Las Vegas Grand Prix adds $45M to tax base; $15M going toward Nevada schools
LAS VEGAS (KLAS) — The 2024 Las Vegas Grand Prix added $45 million to the tax base in Nevada, with more than $15 million of that set to go to schools, according to an economic impact report.
According to a release from the F1 Las Vegas Grand Prix, attendance for race week reached 306,000 people, with 175,000 out-of-town tourists spending on average $2,400 on non-race-related expenditures during their visit to the valley.
That number is nearly twice the amount an average Las Vegas visitor spends, according to a report produced by Applied Analysis for Grand Prix officials.
Non-race-related expenditures include hotel rooms, food and beverage, local transportation, shopping, gambling, and entertainment. The $2,400 number does not include the cost of race tickets.
In all, visitor spending from the event totaled $556 million. The total economic impact of the 2024 race exceeded $934 million.
Spending from the 2024 race generated $45 million in tax revenues for state and local governments. The most significant beneficiaries of this revenue were the state general fund, the county's general fund, and the Clark County School District.
Schools throughout the state are set to receive $15.5 million of the tax allocation.
According to a race debrief following the first Las Vegas Grand Prix, the 2023 race estimated the event had a $1.5 billion economic impact on the area, with $77 million in taxes connected to the three-day event.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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