Thanks to the immense growth in the popularity of Formula 1, the fans of the United States were rewarded with the Miami Grand Prix and the Las Vegas Grand Prix. The two most highlighted races on this year’s calendar, perhaps ready to surpass the glamor of the iconic Monaco GP, are already the highest priced on the calendar. While Miami GP made its debut last year with exorbitant prices for the three-day events, the returning Las Vegas GP has already surpassed it well and beyond. But this doesn’t mean that you get to see the race in Miami for cheap prices.

Now, before we find out the ticket prices for the Maimi GP, let’s look at last year’s numbers. With over 243,000 enthusiastic spectators in attendance over the three-day event, the race weekend was nothing short of spectacular. The thrilling race saw Red Bull’s Max Verstappen emerge victorious, defeating Ferrari’s Charles Leclerc in a heart-stopping battle for the championship’s top spot. However, the impact of the Miami Grand Prix was not limited to the racetrack alone.

Let’s have a look at the prices. While Miami Grand Prix ticket costs are affordable on the low end, they are equally so on the high end. Few alternatives in Miami are priced around $5000 for the weekend, and membership to the upscale Paddock Club costs well over $10,000. Hospitality access isn’t cheap there.

As per AS.com, the pricing and planning for the three days this year can be broadly categorized into three categories: budget, middle, and luxury.

Budget: For a budget-friendly weekend in Miami, you can expect to spend approximately $1,040. This includes a 3-day Campus Pass ticket for $590, a hostel bed for 3 nights at $150, and daily spending of $100 per day for 3 days, totaling $300.

Middle: If you’re looking for a middle-range experience, plan to spend around $2,475 for the weekend. This includes a 3-day Turn 1 North grandstand ticket (B2-B5 section) priced at $1,425; a 3-night stay at a 3-star hotel in Miami for $450 (based on double/twin share, per person), and daily spending of $200 per day for 3 days, totaling $600.

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Luxury: For a luxurious experience, be prepared to spend around $10,000 for the weekend. This includes the F1 Experiences Champions Club 3-Day Package priced at $6,999, a 3-night stay at a 4-star hotel in Miami Beach (based on double/twin share, per person) for $1,500, and daily spending of $500 per day for 3 days, totaling $1,500.

The economic impact of the Miami Grand Prix

The staggering turnout provided a huge boost to the local economy. With fans and celebrities pouring in from worldwide, the event concluded as a success, as it reportedly provided a boost of $350 million to the local economy. The number comes as reported by Ocean and Drive and according to the recently released Economic Impact Report by South Florida Motorsports (S.F.M.) and compiled by Applied Analysis. It not only benefited Miami Gardens but also the entire South Florida and Greater Miami regions. 

Ocean and Drive also quotes the CEO of the Miami GP, Richard Cregan, as saying, “We were proud to deliver on the commitment Stephen Ross made to impact the local economy and the people throughout our community, especially right here in Miami Gardens. Our team worked selflessly to create a campus and experience that was unique to the international culture of Miami. We look forward to growing the event and the positive impact it will continue to make here for years to come.”

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Are the tickets for the Miami GP justified?

The ticket prices for this year have not been fixed. The hype that was built last year remains high, even as Las Vegas is set to shoot the prices of the weekend beyond the grasp of a middle-class family.

The organizers justified their pricing, as quoted by Motorsport, by saying, “Well, it’s partly the scarcity and supply and demand. I mean, we never really did a public on-sale and we had so much demand that ticket prices were partly a function of that.”

Even in 2022, despite widespread criticism of the ticket costs, the $640 grandstand tickets—the second-most expensive seats on the F1 schedule behind Monaco—sold out on the first day of sale. So, there wasn’t much left to complain about later on. However, a $300 Friday campus tour pass allowed you to visit the different parts of campus. Whereas, the luxurious passes for the three days had different amenities to make up for the high prices.

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Watching F1 in Miami isn’t cheap by any means. Moreover, the race’s popularity is expected to take a hit as the Las Vegas GP hosts the circus this year. With tickets shooting sky-high for both events, many fans will be forced to skip either of them. Nevertheless, both are expected to be nothing short of once-in-a-lifetime spectacles for all the fans around the world.