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F1 US Grand Prix at COTA expected to bring millions of dollars to Austin area

The COTA chairman said they are expecting more than 100,000 people per day this weekend.

AUSTIN, Texas — Formula One fans will be heading to the Circuit of the Americas for the Grand Prix this weekend.

This is the 10th year for the event at COTA. Circuit of the Americas Chairman Bobby Epstein is expecting a huge turnout.

"We are about to have the biggest Grand Prix in the history of Formula One," he said.

They are expecting well over 100,000 people per day on race weekend. There is a practice round on Friday, qualifying on Saturday and Sunday is the race.

Epstein said fans checking out the exciting races are traveling long distances to get here. He said about 65% are coming out of state and even different countries, which has a huge economic impact on the Austin area.

"The direct impact is over $400 million in spending in hotels and restaurants and cars and services, to the indirect impact. And by the time you add up all the economic impact, you're nearing a billion dollars."

Epstein said hotels in Austin are filling up and people are staying as far as San Antonio and Waco.

"They are not just saying one night, they are staying four nights on average," he said.

In addition to the race, he said there is a whole lot more at COTA, adding that the event has really grown over the last few years.

“It is very different than a traditional sports event. It’s about wandering the villages and displays and entertainment. Wear your walking shoes," Epstein said.

The event is also filled with concerts including Green Day and Ed Sheeran, attracting even more fans during race weekend.

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