How Much Is The Indianapolis Motor Speedway Worth? [Updated!]

The Indianapolis Motor Speedway is one of the most historic venues in all of sports. Its races have been watched by people from all over the world and the place has seen some incredible moments. It’s not only the fact that the Indianapolis Motor Speedway is the home of the biggest racing event in the United States but the whole area around the track has something to offer. There are lots of bars and restaurants there, making it the perfect place for a family vacation or an outing with friends. If you or someone you know owns a business that deals with cars or motoring, then this article is for you. We’re going to tell you exactly how much the Indianapolis Motor Speedway is worth.

The Economics Behind Hosting A Grand-Prix At The Speedway

The Indianapolis Motor Speedway is the crown jewel of the Indianapolis metropolitan area. It is an incredible feat of architecture and an incredible piece of motorsport history. For those who love cars and racing, it is a Mecca. Professional drivers and teams from all over the world travel to Indianapolis to participate in the biggest and the best racing event in the United States. It truly is an event like no other and with the World Cup in mind, it is not hard to see why. The economics of hosting a grand-prix at the Speedway are incredibly beneficial and it is not hard to see how the event has been maintained and even expanded upon over the years. Below, we’ll explore the economic benefits that the Indianapolis Motor Speedway brings to the city and the state as a whole.

Tourism

Anyone who has been to Indianapolis in the past decade will likely attest to how much the city has changed. The population has increased by around a million people and there are more cars on the road than ever before. The Indianapolis Motor Speedway is a global attraction and an important piece of the local economy, particularly for people who visit or live in the area. The fact that the biggest sporting event in the United States is held there means that plenty of people will be coming to the city, whether it is for the race itself or just for a tour of the track. In 2017, there were over 4.9 million people that visited the Indianapolis Motor Speedway for the race. If you add up all the visitors that went to the track for the race and the associated festivities, such as concerts and comedy shows, then it is a good bet that over 5 million people traveled to Indianapolis that year alone just to see the motorsport event.

The Indianapolis racing scene also benefits indirectly from the fact that there is a World Cup being held in the United States in 2018. The organizers of the World Cup have stated that over 1 million tickets have already been sold for the event. The city and the surrounding areas stand to gain a lot from the influx of people that will come for the Cup. The influx of international visitors will undoubtedly help drive up food and lodging revenue, as will the presence of major hotel chains in the area. There is also the benefit of having a foreign currency earnings stream coming into the city.

Economic Development

Plenty of businesses, big and small, operate out of the Indianapolis metropolitan area. There is a huge demand for cars and car parts in the area as well as a high rate of employment, particularly in the fields of sales and service. Many businesses, both large and small, rely upon the draw of the Indianapolis Motor Speedway for customers and therefore, thrive as a result of the event. There is also the benefit of having an influx of people and new businesses moving to the area, increasing the tax base and providing more jobs. In short, the Indianapolis Motor Speedway provides a diverse range of opportunities for businesses big and small.

Maintaining The Tradition

The Indianapolis Motor Speedway is a living museum, spanning over a mile and a half of racing history. It is located in a beautiful area of the country and it attracts visitors from all over the world. It is a unique and special place that maintains and celebrates its rich racing heritage. The organizers of the Indianapolis 500, the governing body for the event, understand the monetary value of the institution they manage and have worked hard to ensure that it remains a premier motorsport attraction in the world. They have also made the race an annual point of attraction, as the world looks on in awe of what the Indy 500 has become.

In Conclusion

The Indianapolis Motor Speedway is one of the jewels of the Indianapolis metropolitan area. The sheer volume of cars and people that flock there every year for the premier American motorsport event makes it one of the biggest attractions in the area. Its location in the Midwest means that it is far from the crowds and far from the bustle of big-city life. The fact that it is a world-class track and that the race is attended by people from all over the world means that it can be a great draw for tourism. It also provides businesses with a steady stream of customers and an economic boost. Maintaining the tradition and attracting the crowds that it continues to do so well is clearly a top priority for the Indianapolis Motor Speedway and it shows in everything that they do. If you or someone you know owns a business that is related to cars or motoring, then this article is for you. We hope that we were able to shed some light upon how much the Indianapolis Motor Speedway is worth and how much it will continue to be worth, as long as the racing continues.

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