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While events like these are likely good for the local economy (though I think that's in dispute), I can understand the frustration with the level of disruption.
by anitil 2y ago
While events like these are likely good for the local economy (though I think that's in dispute), I can understand the frustration with the level of disruption. Locally they had the 'Newcastle Street Circuit' [0] and visiting my friends living nearby was a bit of a nightmare for a few weeks either side of the event
[0] https://en.wikipedia.org/wiki/Newcastle_Street_Circuit https://en.wikipedia.org/wiki/Newcastle_Street_Circuit
- grecy 2y ago> likely good for the local economy Keep in mind cities pay tens of millions of dollars per year to host an F1 race, and they're often locked in for many years.
- anonexpat 2y agoI would imagine they do this because it’s a positive ROI.
- afavour 2y agoI’d hope they do it because it’s a positive ROI but I certainly wouldn’t assume so. Often politicians sign up for these kind of things for the prestige, irrespective of economic cost. It reminds me of the realities of being an Olympic host city: https://www.nytimes.com/2021/07/24/business/olympics-economics.html https://www.nytimes.com/2021/07/24/business/olympics-economi...
- grecy 2y agoIn theory, sure. In reality? not sure much. Cities compete for the prestige of hosting the Olympics and not so long ago Brisbane "won" the "content" to host the 2032 summer Olympics. Guess how many cities submitted a proposal for the prestige of "winning". One.
- epolanski 2y agoBarcelona has a proper race track, this was only an exhibition.
- jojobas 2y agoAnd also that F1 keeps all of the direct profits. The cities are supposed to recover that from taxes on associated sales, which never works out. It's basically all about buying "prestige" with taxpayer money.
- neverrroot 2y agoFrom an exhibition? Seriously?
- anitil 2y agoThat's why I noted that it's in dispute. I'm not familiar with the research outside of "it's complicated"
- verandaguy 2y ago"Events like these" is relative; it seems to depend on the specific event being discussed. Infamously, FIFA events (World Cups in particular) have been increasingly planned and executed without regard for the wellbeing of the local people and economy. They're hosting one of the upcoming World Cups in (among others) my city, Toronto, and I've rarely been less enthusiastic about a thing in my life.
- julianz 2y agoI understand the hassle, but it's a shame the Newcastle round is no more, it was a brilliant track and had great racing. Really showed off Newcastle to those who haven't been there as well.