Formula 1 in the Algarve - "An exceptional promotion of Portugal’s image"

"It is with pleasure that we join the announcement being made in London at this time, that Portugal will again be on the Formula 1 Grand Prix calendar in 2027 with the Algarve International Race Track in Portimão, and that it is also expected that the race will return in 2028. It is therefore good news, great news for Portugal and, especially, for tourism in Portugal.

This return of the Formula 1 showcases a modern, ambitious Portugal, with vibrancy and the capacity to belong to a very restricted number of countries that can host such a relevant event.

It is an event that will play an essential role in promoting Portugal’s international image and particularly that of the Algarve as a diversified tourism destination. It is also a way of enhancing different regions in Portugal and creating new opportunities for the local economies. 

Hosting this event, which we estimate will bring around 200 thousand visitors to Portugal in each of the years, among which are 150 thousand spectators (more than half of whom are international) and more than 50 thousand professionals. An economic impact not lower than 140 million euros is expected in each of the years. And the estimated cost for the State will be lower than the sum of the taxes on the economic activity associated with these races. More than 920 million followers are expected for each of the grand prix races over 4 thousand hours of TV broadcast.

To sum up, this is a great opportunity for the Portuguese people who love this sport to be able to watch the races live. It is a major opportunity to enhance the Algarve as a diversified tourism location and for the entire local economy, as well as an exceptional promotion of Portugal’s image to almost a billion people as a modern, dynamic, ambitious country with the capacity to attract the more discerning events on a global scale".