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Economic Impact of the Indian Grand Prix

Economic Impact of the Indian Grand Prix

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Published by Soumik Sen

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Published by: Soumik Sen on Feb 26, 2012
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02/26/2012

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SOUMIK SEN PGDM-B 3rd SEM

Uttar Pradesh hosted the 17th race of the Formula One season of 2011 Sebastian Vettel of ´Red Bull Renaultµ lead from start to finish to win race and is the current leader in the driver·s standing   .2011 India witnessed the 1st race of Formula One on its soil The Buddh International Circuit at Greater Nodia. 30 th October .

ƒ ƒ ƒ ƒ 60% of our ever growing population still below the poverty line The cricket crazy Indians are still alien to Formula 1 and other motor sports To construct the magnificent tract spreading across 1.514 km. lands of some three farmers were purchased The infrastructure cost of the event was well over $ 300 million .

which has a total global television audience of 527 million. was a fantastic medium for promoting our Indian brands in overseas markets .ƒ ƒ ƒ More than a sport. Formula 1 is seen as a business for all The top business houses in India were vying for the coveted advertising space at the inaugural Indian Grand Prix F1.

where it is venturing it is targeting the global market along with its mergers and accusations The Indian Grand Prix gave it a tremendous scope to reach to millions across the world .ƒ ƒ ƒ Bharti Airtel limited was the title sponsor for the inaugural Indian Grand Prix Airtel itself in a rebranding phase.

Jaypee Infratech Kingfisher Mahindra Group Hero MotoCorp Reliance Industries Mudra India Puma Bookmyshow .

000 spectators It opened a new chapter in the country's sport Celebrities of all fields came to witness the spectacular event It may emerge as an important tourist magnet like the races of Monaco and Bahrain .ƒ ƒ ƒ ƒ The Indian Grand Prix attracted 95.

ƒ ƒ ƒ India's ability to organize a top-end. especially after the fiasco of the run-up to the Commonwealth Games The event was a grand success both in quality of the game as well as the organization Although there were protests from few corners. worldclass event has been established here. the event has been much appreciated by many Indians .

PricewaterhouseCoopers (PwC) released a study of the Beijing Olympics which predicted that China would in 2008 be neck and neck with the U. for the top spot ƒ They concluded that the study isn t a prediction of Games performance it s more of a benchmark to judge a country s performance ƒ . Colorado College professor Daniel Johnson researched the relationship between a country s economy and its success in global sporting events ƒ Johnson chose that year s summer Olympics to test his model ƒ In June 2008.In 2000.S.

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