Macau Business | November 2023 | Special Report | Our good and old Grand Prix
One-of-a-kind
More than an annual flagship event, the Macau Grand Prix has become a component of the city’s identity and a symbol of the “Tourism+ Sports” initiative. It also showcases the SAR’s external image as the Guia Circuit is recognized as a unique and special track.
As the MGP celebrates its 70th edition, spanning two weekends – just like in the 50th and 60th editions – this special report delves into various aspects, including the event’s historical significance, its impact on the local economy, tourism development, and residents’ livelihoods.
As mentioned in this report by Ubaldino Couto, a prominent Macau-based scholar specializing in the MGP, even though residents in general tend to complain about the GP being a nuisance due to traffic congestion and overcrowding express their desire for the MGP to continue.
Surveys indicated that “everyone wanted the MGP to continue, retracting their dismay by claiming, ‘it’s just for a few days’.”
This year’s edition, the first with all major international races after three years of pandemic restrictions, also brings an unprecedented involvement from the six gaming concessionaires. They have been called upon to cover nearly half of the costs. For the SAR’s coffers, this means that the government will be spending the lowest amount in several years.
Co-ordinated by João Paulo Meneses [email protected]
“There’s plenty of interest and excitement”
Tourists like it
As a consolidated brand over time, MGP has a great capacity to attract visitors
Residents: love and mixed feelings
“Why has there never been a Formula 1 GP in Macau?”
“The most important event in Macau”
Spillover effect
The bills
Expenses regarding works rank first, followed by marketing and advertising
