Abu Dhabi is solidifying its status as a premier cultural and social hub in the Middle East, a reputation exemplified by the upcoming 2024 Formula 1 Grand Prix from December 6-8 at Yas Island, as this globally renowned event not only enhances the city’s profile as a leading tourism destination but also brings substantial economic benefits, drawing an influx of international visitors, particularly from Europe.

In a press statement, Data Appeal Company, which tracks global tourism trends, says that with accommodation rates expected to soar by up to 170 pc compared to the previous week, the Abu Dhabi Grand Prix 2024 is set to attract global motorsport enthusiasts, boosting international arrivals and reinforcing the city’s global tourism standing. Notably, visitors from the UK, Italy, and Germany, collectively representing 15 pc of total attendees, are anticipated to play a significant role in this surge.

Mirko Lalli

“Data shows that over 15 pc of visitors to Abu Dhabi during Grand Prix week come from the UK, Italy, and Germany, underscoring a strong and growing European interest in UAE destinations. For destinations like Abu Dhabi, which are rapidly evolving on the global stage, having detailed insights into major events is transformative. It allows the DMO not only to design events that influence tourists’ travel decisions but also to strategically extend the peak season. Moreover, a deep understanding of traveler behavior and preferences empowers the destination to elevate the visitor experience and sharpen future marketing strategies. In today’s competitive tourism landscape, data-driven insights are no longer optional—they’re fundamental to staying ahead,” says Mirko Lalli, CEO and Founder of the Data Appeal Company – Almawave Group.

Data Appeal Company says that this data highlights the dominance of accommodation expenses, revealing significant demand for lodging during the event

The statement adds that projected attendance for the event aligns with last year’s numbers, estimated at 170,000 people. According to Data Appeal and its data partner PredictHQ, the total predicted spending for the Abu Dhabi Grand Prix exceeds USD 179 million, with accommodation accounting for 85 pc of the total predicted event spend, restaurants making up 14 pc and transportation comprising 1 pc. 

Data Appeal Company says that this data highlights the dominance of accommodation expenses, revealing significant demand for lodging during the event, while dining and transport account for smaller portions of the expenditure. Accommodation prices in Abu Dhabi are expected to be 85 pc higher during the race week compared to 2023 and 58 pc higher than the previous week. The average rate during the event is forecast at AED 1,798 or USD 490.

The statement adds that an analysis of hotel rates across major online travel agencies reveals that the Abu Dhabi Grand Prix surpasses other significant events, including Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) and International Defence Exhibition & Conference (IDEX), in driving accommodation price increases and boosting tourist numbers.

Accommodation rates for the Grand Prix peak at AED 2,646.2 AED, reflecting a rise of up to 170 pc compared to the previous week. This surge notably exceeds the price increases seen during ADIPEC of about 3 pc and IDEX that saw a rise of 15 pc, with the Grand Prix having a more sustained impact on hotel rates.

These statistics reflect the consistent interest from European markets, with the UK, Italy, and Germany forming the top three

The statement adds that the top five countries for incoming flights during the Grand Prix week include a decline in visitors from India, the United States and Russia, but a strong increase from the United Kingdom with a growth of 28 pc compared to the prior week and Italy, which has replaced Qatar in the rankings.

The statement adds that these statistics reflect the consistent interest from European markets, with the UK, Italy, and Germany forming the top three, accounting for 15 pc of visitors, as per the 2023 data. It says that enthusiasts of teams like Ferrari, Williams, and McLaren are especially prominent.